Beyond GDP – Rethinking the ways to measure growth using Sustainable Economic Development Assessment Index and Human Development Index

Though the GDP or Gross Domestic Product is considered to be the main aspect in measuring the financial progress of a country, off late it is being considered as a poor indicator by many economists. The reason behind the same being that it deals with the production of goods and services produced in an economy but it does not actually capture the effects of all the things that matter to people of a country. For an economy to be a booming one, there should be benefit of all concerned and not just a few selectively. The present study therefore considers the SEDA (Sustainable Economic Development Assessment) index given by the BCG as an alternative to the above said problem. There is a comparative analysis done between the countries ranged by the SEDA and the HDI (Human Development Index) values of the same countries.