Need for India becoming
Happier Economy: Moving
beyond GDP
The Indian Economy, however, appears to have moved on after its
encounter with the pandemic and is poised to continue its growth
momentum, becoming fastest growing major economy over the coming
three years according to reports by S&P Global, thus driving the country
to become third largest economy by 2023 due to various factors such as
government’s increasing capex development and crowding in of private
sector investment, maintaining healthy credit culture in the country and
many reforms made in the Ease of Doing Business.
Still the question arises that-Can India become a Happier Economy
amid the rising GDP growth numbers? Does economic growth
make Indians Happy?
Happiness being an abstract and subjective emotion, plays a very pivotal
role in the inclusive growth of a country. Rising incomes leading to a rise
in one’s standard of living do in fact create greater happiness, but, on
contrary, it depicts that in many wealthy nations, amid increase in per
capita income has not lead to expectant increase in happiness levels of
all individuals, thus leading to slow level of national development.
In the recent two decades, the word “happiness” has resurged. It has
caught the attention of various policy makers globally and is being seen
as an ultimate solution to evil capitalist economies of the world.
From the ancient times the word Happiness has always formed a critical
part of philosophy, especially in area of public administration and
governance and draws upon its evolution in the modern welfare state.
Kautilya, when he wrote his magnum opus of governance he in a
very detailed manner examined the- “Dharma of the King to his subjects”
and stated that in the happiness of his subjects lies the happiness of the
King, in their welfare lies his welfare, whatever pleases him he shall not
consider as good , but whatever makes his subjects happy, he shall
consider good”.
As it is rightly quoted by Former Secretary General of the United Nation,
Kofi Annan that-“The health of a Nation’s Democracy depends on
the quality of its governance”’. Kautilya in his book Arthashastra also
emphasised on a virtuous life of Man for the attainment of happiness, and
on the role of State enabling him to achieve his highest calling.
However, as the modern State progressed, the concept of Happiness
drastically changed and got diluted due to its abstract and subjective
nature and was replaced with the advent of Gross domestic Product and
Gross National Product , which have become a popular measure of well-
being of a nation these days.
Though In India, people are happy due to our cultural values and rich
heritage that we have received from our forefathers as a profound gift,
but still we lag behind in World Happiness Report ranking at 122 nd .
On one hand we take pride in being projected as a global leader, but
“how basic needs to be taken care of”- we are still lagging behind.
The concept of poverty eradication should be replaced by the concept of
moving poverty and how many fell back from that poverty line should be
taken in account. Basic amenities should be provided.
Social factors like health, education, unemployment that deeply affect
people’s well-being and happiness should be considered .Both good and
emotional health are one of the strongest factors of happiness and well-
being, good health will make people more cheerful thus causing great
contentment in their daily life, whereas on the other hand emotional
health, will help people in developing the ability to cope with feelings of
depression and anxiety.
For example, when any person faces serious accidents or dangerous
disease, it reduces one’s happiness and a vicious circle of emotional
health dives in, however, if proper medication, health devices such as
wheel chair and support network of friends and relatives is provided, the
person can surpass this sadness and become happier.
Though, Happiness is not being a novel concept, it has found its place in
different theories in different eras and has been accorded a central place
on policy and governance from ancient times and despite all the changes
that it has gone with time, it has become irreplaceable .
Happiness has become a quantifiable concept and has become a
significant measurement of growth and development of a nation. The
introduction of Human Development Index by United Nation to help
address the discontent with using purely economic indicators, and
stating that people are the real wealth of a nation is a significant
milestone in this decade.
Since 2012, a World happiness Report has been published and happiness
is evaluated on the basis of –“How Happy are you with your life as a
whole ?” and using these measures, the report identifies the countries
with highest levels of happiness. But, more important for happiness in a
country are social factors, no poverty, strength of social support, absence
of corruption and degree of personal freedom- all these factors lead to
Happier Economy and “happier countries tends to be richer”.
Hence, it becomes relevant and important for both developed and
developing nations and countries like India to give due recognition to the
concept of Happiness so that emphasis could be given to achieve more
holistic and inclusive model of growth and development and not just
mere numbers.
Authored By
Divya Sharma.
