India's GDP 11 times more than Bangladesh in PPP terms: Govt sources
NEW DELHI: India's Gross Domestic Product (GDP) in terms of purchasing power parity (PPP) was 11 times more than that of Bangladesh in 2019, go nment sources said on Wednesday as they played down IMF projections of India slipping below the neighbouring nation on per capita GDP this year.
Earlier in the day in a tweet, Congress leader Rahul Gandhi took a dig at the go nment over IMF growth projections showing Bangladesh closing in on India in terms of per capita GDP this year and described it as a "solid achievement" of six years of BJP's "hate-filled cultural nationalism".
The go nment sources, on their part, emphasised that under the Modi go nment, the per capita GDP has increased from Rs 83,091 in 2014-15 to Rs 1,08,620 in 2019-20, representing an increase of 30.7 per cent.
In 2019, India's GDP in Purchasing Power Parity (PPP) terms was 11 times more than that of Bangladesh while population was eight times more. In PPP terms, India's per capita GDP in 2020 is estimated by IMF at $6,284 as compared to $5,139 for Bangladesh, according to the sources.
Under UPA 2, the sources said that it had increased from Rs 65,394 in 2009-10 to Rs 78,348 in 2013-14 which is an increase of 19.8 per cent.
The International Monetary Fund (IMF) has estimated India's GDP to grow at 8.8 per cent in 2021, twice that of Bangladesh at 4.4 per cent, they added.
According to IMF, India is set to drop below Bangladesh in terms of per capita Gross Domestic Product (GDP) as the economy is projected to contract by a massive 10.3 per cent this year.
IMF's forecast for India -- a huge downward revision from its previous prediction in June -- is also the biggest contraction projected among major emerging markets amid the Covid-19 pandemic.
However, India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging economy, surpassing China's projected growth rate of 8.2 per cent, the IMF said in its latest 'World Economic Outlook' report.
Released ahead of the annual meetings of IMF and the World Bank, the report said global growth would contract by 4.4 per cent this year and bounce back to 5.2 per cent in 2021.
America's economy is projected to contract by 5.8 per cent in 2020 and grow by 3.9 per cent the next year, IMF said.
China is the only country, among the major economies, to show a positive growth rate of 1.9 per cent in 2020, it said.
IMF in its report said that revisions to the forecast are particularly large for India, where GDP contracted much more severely than expected in the second quarter.
"As a result, the economy is projected to contract by 10.3 per cent in 2020, before rebounding by 8.8 per cent in 2021," it said.
In 2019, India's growth rate was 4.2 per cent.
Last week, the World Bank said India's GDP this fiscal is expected to contract by 9.6 per cent.
"India's GDP is expected to contract 9.6 per cent in the fiscal year that started in March," the World Bank said in its latest issue of the South Asia Economic Focus report.
The Reserve Bank of India has projected the country's economy to contract by 9.5 per cent in the current financial year.
译文来源：三泰虎 http://www.santaihu.com/p/51058.html 译者：Jessica.Wu
India's economy is 5th largest economy at the moment in overall world picture..
May be due to Chinese virus & other global factors India is facing tough situation and hopefully India's economy will bounce back by next year..Let's not compare only GDP with other countries..Thats mere foolishness..
Pappu chorrr gang doesn't have anything to bark so they are spreading lies and misinterpretions to malign govt..
Shameer i k
GDP and GDP per capita both are different. European countries GDP is less than India, but their life style/per capita is double or triple than India....
Why go nment should answer to this buffoon?
CONGIS ,CHAMCHAS OF CHINA, SHD SHUT their mouths ,read IMF report
India 's gdp @8.8%growth. more than Chinas.. Bangla desh is economy peanut before India...
Send back few crores of illegal Bangladeshis and recalculate gdp. But No.. They are vote bank.
INDIA has progressed enormously&rapidly creating a large DISTANCE from the rest of SAARC nations for sure.INDIA has reached from its 3rd world status of the 50s&60s to be in G20&3rd economic power next to USA&CHINA in PPP
millions of bangladeshis have migrated to Bengal and living illegally there under Didi's patronage. this has reduced the overall population pushing up per capita gdp.
The problem is us Indians, we voted in all uneducated leaders, we fight so hard to support them, India was one of the fastest growing nation in the world 6 years ago , then comes Modi and team get elected on false promises. please wake up kick him out of power he is good as chief minister but not fit for Prime Minister. He only working for Gujrati interest not for India or Indians interest.
What a shameless govt. Comparing our gdp with Bangladesh
Fekuji. Size of GDP is 11 times because indians population is 10 times Bangladesh population. Real indicator of progress is GDP per capita. On this basis, Bangladesh has defeated bjp india.
We are now comparable to bangladesh now. We already lost to Pak in virus control.
Indian govt playing a numbers game. bhakts will fall for this nonsense
Nirmala sitaraman, a learned and qualified FM will bail us out. Just joking-------
just remove the Ambanis, Adanis and a handful of others per capita GDP and percapita GDP of India will plunge much below Bangladesh and probably Nepal.
Per Capita GDP is relevant. Overall GDP of India is more than Singapore. Does it mean we are richer?
When Manmohan Singh was PM India used to be compared to china. Now we are comparable to Bangladesh. By 2024 we will become comparable to Afghanistan?
no...by 2024 we will be comparable to Somalia