Bengaluru, Sep 4 (SocialNews.XYZ) Karnataka Deputy Chief Minister G. Parameshwara on Friday questioned the Centre's celebration of India's high GDP growth, saying that economic expansion must translate into better jobs, higher incomes and greater economic security for ordinary citizens.
In a statement titled "India Needs Growth That Reaches Every Indian, Not Just a GDP Number", Parameshwara said a high GDP figure alone could not be treated as a measure of prosperity and urged the Union government to address concerns over employment, per-capita income, manufacturing and household purchasing power.
He also questioned the impact of the recent revision of India's GDP base year from 2011-12 to 2022-23, along with changes in methodology, data sources and estimation techniques.
He said the state government should provide greater transparency and independent scrutiny, particularly while highlighting high growth rates following the Covid-19-induced economic contraction.
"A GDP number is not a certificate of prosperity," Parameshwara said, pointing to India's relatively low per-capita income despite being among the world's fastest-growing major economies.
He cited IMF estimates putting India's per-capita GDP at around $2,813 in 2026 and said it remained lower than Bangladesh's estimated $2,911.
The Deputy Chief Minister said the state government must explain what seven to eight per cent growth meant for young graduates unable to find jobs matching their qualifications, families facing pressure on purchasing power and workers dependent on low-paid or insecure employment.
Calling for a greater focus on employment-oriented growth, Parameshwara said that India needed manufacturing that generated millions of jobs, stronger MSMEs, higher wages and greater opportunities for educated youth.
He also raised concerns over India's external economic position, citing a current account deficit of $4.2 billion and a merchandise trade deficit of $86.1 billion in the first quarter of 2026-27.
He said the merchandise trade deficit had reached $333.19 billion in 2025-26 and added that the country remained vulnerable to oil prices, geopolitical conflicts, import dependence and disruptions in global trade.
Parameshwara also questioned continued import dependence in critical sectors despite the Centre's "Make in India" and "Atmanirbhar Bharat" initiatives, saying economic growth should also strengthen India's economic sovereignty.
Highlighting Karnataka's economic performance, the Deputy Chief Minister said the state had demonstrated how technology, innovation, human capital, entrepreneurship, manufacturing and global integration could support sustained growth.
"India does not merely need a higher GDP. India needs higher incomes, better jobs, stronger exports, competitive manufacturing and economic security," he added.
Parameshwara said the real measure of economic progress should be whether growth was inclusive and sustainable and improved the lives of ordinary Indians, rather than being judged solely by headline GDP figures.
Source: IANS
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