Earlier in the day in a tweet, the leader of Congress Rahul gandhi investigated the government on IMF growth projections showing that Bangladesh is close to India in terms of GDP per capita this year and described it as a “solid achievement” from six years of BJP’s “hateful cultural nationalism”.
Solid 6-year achievement of BJP’s hate-filled cultural nationalism: Bangladesh prepares to overtake India.👏👏👏 https://t.co/waOdsLNUVg
– Rahul Gandhi (@RahulGandhi) 1602647300000
Government sources, meanwhile, emphasized that under the Modi government, GDP per capita has increased from Rs 83,091 in 2014-15 to Rs 1.08,620 in 2019-20, representing an increase of 30.7 percent. .
In 2019, India’s GDP in terms of purchasing power parity (PPP) was 11 times that of Bangladesh, while the population was eight times greater. In PPP terms, the IMF estimates India’s GDP per capita in 2020 at $ 6,284 compared to Bangladesh’s $ 5,139, according to sources.
According to UPA 2, sources said it had risen from Rs 65,394 in 2009-10 to Rs 78,348 in 2013-14, representing an increase of 19.8 percent.
The International Monetary Fund (IMF) has estimated that India’s GDP will grow by 8.8 percent in 2021, double that of Bangladesh at 4.4 percent, they added.
According to the IMF, India is projected to fall below Bangladesh in terms of Gross Domestic Product (GDP) per capita, as the economy is forecast to contract 10.3 percent this year.
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 growth rate of 8.8% in 2021, thereby regaining the position of the fastest growing emerging economy, surpassing China’s projected growth rate of 8.2%, said the IMF in its latest report.World economy perspectives‘ report.
Released before the annual meetings of the IMF and World Bank, the report said global growth would contract 4.4 percent this year and return to 5.2 percent in 2021.
The U.S. economy is projected to contract 5.8 percent in 2020 and grow 3.9 percent next year, the IMF said.
China is the only country, among the major economies, showing a positive growth rate of 1.9 percent in 2020, he said.
The IMF in its report said the forecast revisions are particularly important for India, where GDP contracted much more severely than expected in the second quarter.
“As a result, the economy is forecast to contract 10.3 percent in 2020, before recovering 8.8 percent in 2021,” he said.
In 2019, India’s growth rate was 4.2%.
Last week, the World Bank said that this fiscal India’s GDP is expected to contract by 9.6 percent.
“India’s GDP is expected to contract 9.6 percent in the fiscal year that began in March,” the World Bank said in its latest issue of the South Asia Economic Focus Report.
The Reserve Bank of India has projected that the country’s economy will contract 9.5 percent in the current financial year.
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