Real account of GD round at top B-school for MBA admissions 2013
MBAUniverse.com brings to you a series of real account of GD, PI, WAT round at Top B School for MBA admission 2013.
Given below is the realistic account of Group Discussion with 7 Candidates for admission to one of the top Business school.
Topic: GDP growth is not the best indicator of Social justice
Arnav- Let us be clear about the topic, it is based on the current study of economics related to growth in a country in a given period, say one calendar year. I however, understand when Economic growth measures income it does not measure equality, it measures growth, but not destruction that has been caused due to acts of nature or otherwise. If there is a growth of 6, 7, 8, or 10 percent in GDP, it does not necessarily mean that all the people in the country are better off by the same or even the fraction of that GDP. It is a statistical presentation wherein poor or lower middle class people remain wherever they were. The only change is that they need to spend more on buying the essential commodities due to ever rising inflation.
Arindam- Yes, you are right Arnav. Social and economic disparities are not looked into while marching forward on the scale of economic growth. These growth measures like GDP ignore values like social cohesion and the environment.
Meenakshi- No Arindam, you may not be right. There is no better way of measuring economic growth of a country. All the goods and services produced in a calendar year in a country are taken into account, what else is required for calculation of economic growth? Higher the GDP higher is the economic growth of a country and it can concentrate more on the products and services wherein growth rate has increasing trend.
Arindam -Well, you may be right to some extent but we all have our own views to express.
Snehlata- Friends, in fact whatever system we adopt now a days, GDP, GNP, NNP all measure economic growth of the country but do they have social justice, if not why? Allow me to present my views in brief. When the rich and upper middle class of the country earn more, the national income, GDP increases. It doesn't signify that the poor or lower middle class people have earned more.
Saksham - In my view present system of measurement is the best indicator of Economic growth as well as social well being as it measures growth without the effects of inflation and therefore is quite satisfactory. It is measured in a comprehensive manner, covering the production of consumer goods and services, even government services, and investment goods.
Arnav Friends, had it been the best indicator, the country would have not been reeling under severe poverty problems despite constant growth in GDP. Wherein thousands of people die - the economic growth may still increase since the income will be more in a less populous country.
Pradyuman - I think Arnav is right, we should have some good system of measurement that may be rated as the best and justify the social justice. A bunch of hundred capitalist families might contribute 80% of economic growth whereas millions contribute 20% of it. Since the growth in GDP in a rising economy is vibrant despite the fact that the gap between the rich and the poor is widening.
Srikant- No, The present system is right. I am a student of economics and I know well that GDP growth rate is the most important indicator of economic health. If it's growing, so will business, jobs and personal income. If the GDP growth rate actually turns negative, the economy is heading towards recession. When the economy is expanding, the GDP growth rate is positive.
GD participants' Analysis and expert feedback:
1. Arnav: Recommended with top ranking.
2. Arindam: Not recommended
3. Meenakshi: Not recommended
4. Snehlata: Recommended with 3rd ranking
5. Saksham: Recommended with 2nd ranking.
6. Pradyuman: Not recommended.
7. Srikant: Not recommended.
For more real account of GD, PI and WAT round visit the URL below:
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