Gross Domestic Product (GDP) as an indicator of the economic progress of a nation was first structured as an indicator of wartime productivity during World War II. But since then, the concept of GDP has fallen short on many counts, in spite of the stature it has come to command. This results in severe distortions since it does not yet distinguish between economic activity that contributes to a nation’s well being and what detracts from it.
ABOUT THE AUTHOR Jayshree Bose
Jayshree Bose is a first class postgraduate and National Merit Scholarship holder from Calcutta University. She has had a prolonged career in the Mumbai media circles with national financial dailies such as Business Standard and Financial Express and magazines such as Businessworld. She served there for over 16 years in senior capacities such as Associate Editor and Assistant Editor, and has been a prolific writer on topics related to banking, insurance and the economy, which are her prime areas of interest. During her tenure at Mumbai, some of her articles led to a series of financial sector reforms. She was earlier a consultant with the Institute for Financial Management and Research (IFMR), an ICICI Bank-sponsored Business School and Research Institute at Chennai. She has also written and edited books on banking and finance for KPMG and Jardine Fleming and brought out special issues of the Indian Banks' Association (IBA) Journal on a turnkey basis. Jayshree Bose is now a Faculty Member-Consulting Editor with Icfai Books, a division of the Icfai University Press, where her work involves writing articles and editing books on her special areas of interest such as banking, insurance, the economy and business strategy. She is also a regular contributor to professional magazines on insurance and banking.
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