The Indian economic discourse has recently found itself trapped in a familiar, exhausting loop. With every release of GDP figures, a predictable tug-of-war ensues. On one side, we see celebration of 'fastest-growing major economy' status. On the other, multiple commentators question deflator methodologies, base year revisions, and the gap with observable ground realities.
Our collective obsession with a single headline number - GDP growth to the first decimal point - may be the problem. One is reminded of Goodhart's Law: when a measure becomes a target, it ceases to be a good measure. GDP is a vital barometer. But it's a blunt, singular instrument. It may tell you how fast the wheels are turning. But it doesn't always tell you if the vehicle is reaching its destination. To truly understand a nation's trajectory, one must adopt a more holistic view of development.
