Very often we watch TV debates or read news on the state of India’s economy. Debating and reporting sides put forward respective facts and arguments to support their views. Similar debates though not so articulated and civilized can be found on social media as well, how much additional knowledge they provide to one’s existing knowledge on India’s GDP depends on which side debater and audience are. Some discussions are indeed knowledgeable but then those remain too elite or technical for the understanding of common man. Such conversations become experts’ mutual talk resulting in a discussion which is way beyond understanding of average listener. Consequently, a large part of audience comprising of youth, businessmen, entrepreneurs and professionals, is left clueless on the discussions involving concepts & terminology of GDP. It becomes difficult to identify which side is talking sense, which side is furthering political agenda and which one is playing to the gallery. As a result such an important aspect of nation’s well being becomes alien talk for the common Indian who is, in actual, the major contributor to nation’s economic evolution.
It is important to mention here that government does release GDP updates on regular basis for public consumption but one needs to take pain to unravel those updates and ponder over them. Even after covering that extra mile the interest is confined to knowing whether GDP growth rate is falling short or exceeding the projected one. This is partly because of limited interest but largely because of lack of basic understanding of GDP concept and related nitty-gritty. Many are aware that the livelihood, business, occupation and employment they are engaged in, are part of India’s GDP but most of them stay ignorant of the status of the sector they belong to and its contribution and impact on GDP. In the absence of such awareness policies framed by government is neither fully understood nor focused in the manner they should be. Also, knowing GDP basics will further add to one’s capability of associating better with one’s work space and profession.
Therefore, it brings us to following key points –
- Knowing and understanding concept of GDP should be an expertise not confined to economists alone
- Right to that understanding should not be supressed by political slugfest or succumb to the battle of opposing agendas
- There is a need to educate Indian public on mysteries of GDP numbers which form basis of TV debates
- Simplify the concept of GDP, related methodology & its calculations, sectorwise performance and relevance of various GDP growth numbers in an easy, non-technical and uncomplicated manner for every interested person to grasp how our economy behaves
- Most importantly, upgrade average audience to be a knowledgeable participant who can make his/her own opinion on India's GDP trend
Conclusively, topic of GDP should be made simple and user-friendly for general public which, while overcoming the barrier of ignorance, can also empower average Indian to understand an expert's views about GDP.
