Q.3 What is gross domestic product (GDP) ? What are the implications of weakened correlation between GDP growth and formal sector jobs? (10 Marks)

Mentor’s comment- https://www.thehindu.com/opinion/lead/whose-gdp-is-it-anyway/article65685838.ece In the intro, mention the issue of obsession with GDP in the political as well as economic space. In the body mention the weakened employment intensity of GDP growth and its implications for economy and polity. In the next part, mention that the phenomenon is at the global level and not just India. … Continue reading Q.3 What is gross domestic product (GDP) ? What are the implications of weakened correlation between GDP growth and formal sector jobs? (10 Marks)