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Mohan Bhagwat 'rejects' GDP as reflector of economic performance, says it's a 'foreign concept'

He has asked Niti Aayog to find and alternative to GDP that reflects economic performance of India

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RSS Chief Mohan Bhagwat has asked Niti Aayog to come up with an alternative to Gross Domestic Product (GDP), as he feels that the latter – a foreign concept – does not truly reflect the economic performance of India.

According to a Hindustan Times report, Bhagwat made the remark while addressing the long-term perspectives for the Indian economies and economic policies at the Bombay Stock Exchange.

Bhagwat also rejected the concept of a cashless economy, which has been championed by Prime Minister Narendra Modi. The RSS chief said, “We can aim for a less-cash economy. But there are many people in this country who cannot go cashless. They simply cannot afford to invest energy in understanding ‘cashless’. There needs to be some cash flowing in the world economy.”

Speaking about long-term perspectives for the Indian economy and economic policies at the Bombay Stock Exchange (BSE) in Mumbai, Bhagwat said, “There are countries that have rejected the concept of GDP. Bhutan uses a happiness index. In the Indian scenario that may not be suitable, so we can come up with our own index for measuring growth.”

He also suggested that Air India be sold to only an Indian company. “It is not that Air India is not working properly, but it is not being run properly. It should be handed over to someone who can run it well. But this has to be an Indian company. India should never hand over its domestic airspace to a foreign company,” he said. Bhagwat said Air India has many assets that need to be preserved, such as landing rights at airports in major cities across the world.

The RSS chief said India by adhering to good economic principles can set an example before the world. Asserting that agricultural economy will have to give way to trade and business, he urged the country to accept that some agricultural land will have to be forfeited for business and trade, as the three will go hand in hand for development.

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