Faced with attacks from the Opposition on the International Monetary Fund (IMF) projection that Bangladesh will surpass India in terms of per capita income, the government said that India’s Gross Domestic Product (GDP) is 11 times higher than the from Bangladesh in 2019.
Downplaying the IMF projections, insiders said that under the Modi government, GDP per capita has risen from Rs 83,091 in 2014-15 to Rs 1,08,620 in 2019-20, representing an increase of Rs 30, 7%, as reported by PTI news agency.
GDP had risen 19.8 percent during the congressional-led UPA’s second term, the people cited above added.
In 2019, India’s GDP in terms of purchasing power parity (PPP) was 11 times that of Bangladesh, while the population was eight times larger, PTI sources said. In terms of PPPs, the IMF estimates that India’s GDP per capita in 2020 will be $ 6,284 compared to Bangladesh’s $ 5,139, according to sources.
Sharing the IMF projections, Congressional Leader Rahul Gandhi mocked the Bharatiya Janata Party (BJP)-led government at the Center on Wednesday saying it is his achievement in six years.
“Solid 6-year achievement of hate-filled cultural nationalism from BJP: Bangladesh is ready to surpass India,” Gandhi tweeted.
Trinamool Congressional (TMC) Senior Leader Abhishek Banerjee said on Wednesday that the country’s economy is “in tatters” and described the IMF projections as “our colossal downfall” in the pursuit of the “$ 5 trillion dream.” of Prime Minister Narendra Modi.
The IMF’s forecast for India, a big downward revision from its previous forecast in June, is also the biggest contraction projected among major emerging markets amid the Covid-19 pandemic.
However, India is likely to rebound with an impressive 8.8 percent growth rate in 2021, thereby regaining the position of the fastest growing emerging economy, surpassing China’s projected growth rate of 8.2 percent. percent, the IMF said in its latest edition of the World Economic Outlook. ‘ report.
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