‘GDP growth has benefited rich more than poor’

India has admitted at a UN conference that high economic growth has benefited the rich more than the poor to oppose a proposal of introducing the concept of 'emerging' economies between developed and developing countries. HT reports.

India has admitted at a UN conference that high economic growth has benefited the rich more than the poor to oppose a proposal of introducing the concept of 'emerging' economies between developed and developing countries.

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Agreeing to the proposal would have meant that the international aid to countries like India and China would have drastically reduced.

Saying that extreme poverty historically has resulted in constrained but sustainable living patterns, India said the GDP growth has resulted in unsustainable resource use and lifestyle of the elite.

“The larger part of these so-called emerging economies still live in poverty and require assistance if they have to be assessed as equal partners towards a green economy," India said, on behalf of G-77 plus China group at a UN conference in New York on the 10th year framework of programmes on sustainable development on Friday.

India also said the framework for broad targets of sustainability should also consider millennium development goals, human development index, animal welfare targets and happiness index along with parameters for green growth.

Meanwhile, a UN environment panel has said the world cannot sustain the tearaway rate of use of minerals, ores and fossil and plant fuels. It called on governments to "decouple" economic growth from the rate of natural resource consumption.