ASIAN JOURNAL OF RESEARCH IN SOCIAL SCIENCES AND HUMANITIES

The world leaders now aim at establishing an overall development scenario rather than only considering the Gross Domestic Product(GDP) a true reflection of a countries well being. This paper aims to depict the recent initiation to evaluate the efficiency of a nation in converting GDP growth to well being in terms of Sustainable Economic Development Assessment scores (SEDA). SEDA measures sustainable development with the help of ten individual dimensions or parameters of true development. A good SEDA progress score backs up India?s position in the world as one of the leading Economy and our country has shown a significant improvement in various parameters measured by the BCG to establish sustainable development. Yet recent scores in parameters like education, employment, income inequality and environment has been found pugnacious in the country and is amongst the least possible scores in the world which leaves India with a great scope of up gradation. This paper also aims to compare the BRICS nations in terms of their sustainable development scores and also affirms Russia and Brazil to top the list. However India and China top in terms of progress scores giving a huge hope of amendment in converting wealth into well being so far. Further positive correlation in SEDA scores has been established amongst few BRICS nations. Data of 2016 has been compiled and trend analysis to compute their expected and actual scores and growth of scores has been depicted. Moreover the five countries has been ranked in the paper in terms of their individual dimension scores only in order to compare amongst themselves.

Nevertheless Analysis of variance is applied to the data to conclude that there is a significant difference in variance of individual dimension scores amongst Brazil, Russia, India, China and South Africa,the five BRICS nations.