Reserve Bank of India(RBI)🏛 Governor Raghuram Rajan👔 has criticised 😠 the new formula used to measure the country's Gross Domestic product(GDP). He said that policy makers should be careful😯 while measuring growth📈 with the GDP figures. He cited the example of 2⃣ mothers who babysit each other's kids👶, explaining that while there is a rise⬆ in economic activity as both mothers pay💵 each other, the net effect is nullified😳. The new GDP series, which has been in effect for a year now, has been criticised😠 by economists and academicians who claim the picture portrayed by the GDP figures do not mirror real economic activities👎.
Original Image Credit:Wikipedia/ International Monetary Fund - 2004 Spring Meetings