Many governments think that economic progress is their most important goal. Some people, however think that other types of progress are equally important for a country. Discuss both views and give your own opinion.
Most governmental organisations are of opinion that fiscal development is an important measure in assessing a
country
’s growth
. While some strata of society think that there are other issues which need equal attention. I agree with the latter part of the statement and believe factors measured in non-GDP terms are also
vital for the overall development of any country
.
Firstly
, tracking a country
’s growth
in economic terms provides measurable and conspicuous benefits with immediate effect. For instance
, Sri Lanka used to be a tourist centre during the pre-covid era and the government invested heavily in the infrastructure sector to gain revenue and the subsequent spike in GDP growth
. The uptick in government earnings will increase investment in other lucrative sectors which further
help in boosting the economy. Additionally
, increased GDP levels help the country
gain a share in world economic growth
.
On the contrary
, other pressing matters including reducing carbon footprints or resolving bilateral issues help in building the system power. A move towards a greener economy benefits the health and life expectancy of its citizens around the world. For example
, India has targeted to reduce certain levels of Co2 emissions from the earth by 2030 and is applauded at the world economic forum for taking proactive actions towards this
goal. Also
, strengthening the law and order arrangement helps in reducing crimes and building trust in the Judicial system of the country
. Furthermore
, the well-established social system helps in spiking literacy rates,
and spending power by individuals which helps the Remove the comma
apply
country
economically and globally.
In a nutshell, policymakers should consider both micro and macro factors in measuring the success of the economy.Submitted by ankush04sag on
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