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Thursday, October 22, 2020

India GDP in PPP terms more than Bangladesh’s: Government – Times of India

NEW DELHI: India’s GDP in purchasing parity terms (PPP) in 2019 was 11 times more than that of Bangladesh while its population was eight times more, government sources said on Wednesday while responding to Congress functionary Rahul Gandhi’s attack on Twitter on the issue.
Referring to media reports, Gandhi had taken to the micro-blogging site and said: “Solid achievement of 6 years of BJP’s hate filled cultural nationalism: Bangladesh set to overtake India.”

Government sources pointed out that in PPP terms, India’s per capita GDP in 2020 is estimated by IMF at $ 6,284 as compared to $5,139 for Bangladesh. They pointed out that data showed that Bangladesh overtaking India in 2020 is a temporary effect and that India will again overtake Bangladesh in 2021.
IMF data showed on Tuesday that Bangladesh is set to overtake India — which is set to face a major contraction — in terms of per capita GDP in 2020-21 in dollar terms. The data showed that Bangladesh’s per capita GDP in 2020 would be $1,888 while that of India would be at $1,877.

But in 2021, India would again overtake Bangladesh due to higher growth rates in dollar terms likely to be posted by New Delhi.

78673506 India GDP in PPP terms more than Bangladesh’s: Government - Times of India

On the issue of per capita GDP, sources pointed out that it was also important to note that under the Modi government, it has risen from Rs 83,091 in 2014-15 to Rs 1,08,620 in 2019-20, which is an increase of 30.7%. Under UPA-2, it had increased from Rs 65,394 in 2009-10 to Rs 78,348 in 2013-14 which is an increase of 19.8%, the sources pointed out.
Experts said such issues should not be taken seriously and focus must be on reviving growth in the non-agricultural sector in India which has borne the brunt of the Covid-19-induced lockdown.
“These comparisons should not be taken seriously. We should focus on how to revive our growth. The fact that Bangladesh has been doing well is known. This year the agriculture sector in South Asia has done well. The agriculture sector has done well in Bangladesh and the sector is doing well in India also. But in India’s case the forecast is of 10.3% contraction by the IMF in GDP and 86% of the non-agriculture sector has been affected. We have to focus on the non-agriculture sector,” said Pronab Sen, former chief statistician of the country.

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