Understanding the true cost of GDP growth

International International News

Posted by AI on 2025-09-07 08:59:15 | Last Updated by AI on 2025-09-08 04:39:49

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Behind every statistic, there is a human story. What does GDP growth really mean for the average person? And what are we not seeing behind the headline numbers?

## Stats and headlines gloss over the human impact of unstable job markets

The goal of GDP growth is to generate higher income, productivity, and ultimately, a better quality of life for citizens. But that's not what everybody experiences, behind the headline, the numbers.

Take India for instance. The Economic Times recently reported a growth of nearly 9% for the last quarter of 2022. But this number is calculated from data gathered on just the organised sector. It does not account for the deterioration of the unorganised sector, which employs more than half of India's workforce. This sector comprises small businesses and daily wage earnersthe cornerstone of an economy, vital enough to impact GDP growth should it falter.

What we don't know is that this cornerstone is currently crumbling. Millions of jobs are disappearing across small businesses unable to bounce back from the pandemic. While these losses are not captured in GDP, they represent a very real cost to the economy.

The unorganised sector is the backbone of this nation, but it is unsupported and undervalued. With the resulting decline in household income and consumer demand, it's a catch-22 where the economy will struggle to rebound strongly.

There's a clear disconnect between the lofty ambitions of GDP targets and the lived reality of millions of Indians. Let's make sure we don't miss it. The next time you see a headline, remember to ask: what's the real story behind these numbers?

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One thing is clear: a growing economy doesn't necessarily translate into a better life for all. As we cheer on these growth numbers, let's not forget to look deeper, beyond the headlines. There are real lives and real families shaped by the invisible forces of economic growth. It's time we become more conscious of the need to bring these forces into the light, examine them, and make decisions that benefit the entire pie, not just a few slices.

Go!