Sustainable Development Goals, Going Beyond GDP:India’s Case

Objective: The study is about the effect of indicators of Sustainable Development goals on India’s GDP. The major objective is to find the partial correlation of various dimensions like Poverty, Education, Gender Equality, Environmental Sustainability and Health with the country’s GDP.

Methods/ Statistical Analysis: The correlation analysis is performed by creation of a multi-dimensional SDG Index via statistical technique called as Principle Component Analysis (PCA). PCA is used to obtain a factor component from linear combination of indicator variables for each dimension. Our sample consists of a series for time period 1990-2016. The study uses the secondary data from authentic sources like World Bank, UNDP and HDI Reports. A regression equation involves each factor component as a regress or and logarithm of India’s GDP per capita (based on Purchasing Power Parity constant 2011 $) Index as a dependent variable.

Findings: It exhibits that Poverty, Environmental Sustainability, Health, Gender Equality and Education explain about 99% of the variation in India’s GDP. The indicators of all the dimensions are significant in explaining country’s GDP. In order to measure welfare in a developing economy like India there is a dire need to construct a measure which promotes sustained growth and higher level of productivity. According to Amartya Sen’s Capability Approach a merger of wellbeing and income or utility is opposed, whereas broadening of social evaluation with key focus on education and health is a way forward. India has assumed a critical job in forming the Sustainable Development Goals (SDGs), it is nothing unexpected that the nation's national advancement objectives are reflected in the SDGs. The articulation "Sabka Saath Sabka Vikas," which deciphers as "Aggregate Effort, Inclusive Growth" and has been advanced recently which frames the foundation of India's national improvement plan.

Application: To quick track this plan, the Government of India has recently discharged a draft Three-Year Action Agenda covering years 2017-18 to 2019-20. In parallel, work is ahead of time organizes on a 15-Year Vision, which will likewise incorporate a 7-year Strategy. Mirroring the nation's long-standing bureaucratic convention, these records are being set up with dynamic investment of the States under these dimensions.