ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Gross National Happiness Index is a single number index developed from the 33 indicators categorised under nine domains. The Centre for Bhutan Studies constructed the GNH Index using robust multidimensional methodology known as Alkire-Foster method.

Detailed explanation-2: -During the mid-1970s, Bhutan’s King Jigme Singye Wangchuck first introduced gross national happiness (GNH), and said that gross domestic product (GDP) is less important because it could not deliver happiness and well-being.

Detailed explanation-3: -Gross National Happiness (GNH) is a measurement of the collective happiness in a nation. The term was coined in 1972 by Bhutan’s fourth Dragon King, Jigme Singye Wangchuck. The GNH concept has inspired a modern political happiness movement.

Detailed explanation-4: -According to the World Happiness Report 2019, Bhutan is 95th out of 156 countries. The holistic consideration of multiple factors through the GNH approach has been cited as impacting Bhutan’s response to the COVID-19 pandemic.

Detailed explanation-5: -Bhutan is the only country in the world that has a ‘GNH. ‘ You may think GNH is just another statistically based term with no real life application, but it refers to “Gross National Happiness.” The process of measuring GNH began when Bhutan opened up to globalization.