As per IMF, India shall become 5th largest economy in FY-2023 and is likely to be 3rd largest in FY-2028 surpassing the UK, Japan and Germany. This is because, in the past several decades, India’s GDP growth has been higher than in these nations. Currently, India’s GDP growth is the highest in the world despite its decline in the past 6 years. In such a fast-growing economy, falling employment and the consequential rising poverty are indeed unusual. Therefore, India must revisit its growth model. The benefits of growth must flow to the population at the bottom of the pyramid. For this, let’s peep into the basics of GDP, as invented by Simon Kuznets, a Nobel laureate of USA, in 1934-35.