At World Economic Forum in Davos, Kamal Nath calls GDP a ‘fancy figure’, says ‘growth must translate to well-being on ground’  

Kamal Nath.

Madhya Pradesh chief minister Kamal Nath, on Wednesday, called the gross domestic product a “fancy figure” and stated that economic growth “must translate into well-being of people” on the ground.

While addressing a session on the emerging market outlook at the World Economic Forum annual meet at Davos, Nath strongly defended his government’s decision to give farm-loan waiver and said the agricultural sector in India and particularly in his state was suffering.

While referring to the latest International Monetary Fund prediction for the Indian economy, he said, “GDP is a fancy figure and at times it can be misleading as one needs to see where all a 7.5 per cent growth figure translates into.”

He also spoke about the global economic scenario and said the global order is getting changed.

Related