A Comparative Analysis on the Role of Gross Domestic Product and Gross National Happiness as a Method of Growth Rate Measurement of a Country

Abstract

Measuring economic growth of any nation is of prime importance as it helps the government to allocate the capital among various sectors of economy as per the requirements. It is also an indicator of nation s progress and prosperity (Verma, 2013). Growth measurement is also helpful to see the tendency of way on which we are going on. Actually it gives us a future prospective by analyzing past trends. It also helps full in comparisons of growth perspective. (Sharma, 2015). newlineGross Domestic Product (GDP) is the oldest monetary method of growth measurement across the world. It is termed as monetary approach as it includes the income generated by various sources in the country. According to it Bigger the size of GDP more prospers the country. (Berradi, 2016). newline