Introduction on Real Development should transform people’s lives, not just economic statistics

   The global economy has touched the height of $87.8 trillion, however, extreme poverty is bottom lined with 1.89 billion people and nearly 36% of the world’s population lives under extreme poverty. This depicts that economic statistics are mere numbers and not a source of real development. There is no denying fact that a strong economy plays a vital role in taking the country to the height of glory yet real and sustainable development cannot be achieved if people’s lives are not changed in upward social mobility. This can be well understood from the example of countries whose GDP lies on the top of the list while in human development they are bottom lived. So, what are the essential indicators of real development? Why mere development in economic statistics cannot be gauged as real development? And how real development transforms people’s lives? This essay will dwell upon these questions in detail. Development is an improvement in the living standards of people. Thus, only economic statistics cannot show the upward graph of real development. Rule of law, gender equality, and equitable access to education are some indicators of real development. Nordic countries have followed these indicators and are listed at the top in terms of real development. Although economic indicators of development summarize a country’s overall economic performance, they fail to capture the real picture of people’s well-being. Real development is people-centric human development which not only enlarges people’s freedom and opportunities on an equitable basis but also brings about a meaningful change in their everyday lives.