Focusing on job-creating sectors instead of macro GDP numbers would serve our well-being better
There’s been much hand-wringing in India about the possibility of Bangladesh overtaking India on per capita gross domestic product (GDP). This may be transient and will surely be reversed once our growth picks up towards the end of 2020-21. But the real message from the International Monetary Fund’s World Economic Outlook is not about growth, but the underlying dynamics that may have propelled a rise in Bangladesh’s GDP per head. Most observers agree that its better social indicators are among the reasons for this.