The Modi government has been under attack by the opposition following the International Monetary Fund’s estimate of Indians lagging behind Bangladeshis in earnings this year. India’s gross domestic product (GDP) was 11 times that of Bangladesh in 2019. Government sources gave this information on Wednesday. According to news agency PTI, there has been a significant increase in per capita GDP during the tenure of Modi government. While the per capita GDP was Rs 83,091 in the year 2014-15, it has now increased by 30.7 percent to Rs 1,08,620 in 2019-20.

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The International Monetary Fund (IMF) estimates that India will lag behind neighboring country Bangladesh in terms of per capita GDP this year. Government sources did not give much consideration to the IMF’s estimate that India’s GDP in terms of PPP in 2019 was 11 times higher than Bangladesh. PTI quoted sources as saying that in 2019, India’s GDP in purchasing power parity (PPP) was 11 times higher than that of Bangladesh, while the population was eight times larger. In terms of PPP, India’s per capita GDP is estimated at US $ 6,284 by the IMF in 2020, compared to US $ 5,139 for Bangladesh.

Rahul Gandhi targeted the target

Sharing IMF projections, Congress leader Rahul Gandhi on Wednesday took a pinch on the Bharatiya Janata Party (BJP) government at the Center and said it was his achievement in six years. Gandhi tweeted, “6-year solid achievement of BJP’s hate-filled cultural nationalism: Bangladesh is ready to overtake India.” On the other hand, senior Trinamool Congress (TMC) leader Abhishek Banerjee said on Wednesday that the country’s economy is “bad”. The IMF’s projections have led to “our great collapse” in pursuing Prime Minister Narendra Modi’s “5 trillion dreams”.

Indians will be behind Bangladeshi in earnings

The Indian economy has been badly affected by the Corona epidemic and lockdown. This will cause a decline in the earnings of Indians. The International Monetary Fund (IMF) has estimated that India’s per capita GDP will decline by 10.3 per cent to $ 1877 during the fiscal year ending March 31, 2021. According to the IMF report, per capita GDP of neighboring Bangladesh is estimated to increase four percent in 2020 to reach $ 1,888. In this way, Indians will lag behind Bangladeshis in earning.

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According to the IMF’s World Economic Outlook report, India is poised to become the third poorest country in South Asia. Only per capita GDP of Pakistan and Nepal will be less than India while countries like Bangladesh, Bhutan, Sri Lanka and Maldives will be ahead of India. However, the IMF has predicted that India could rebound as Asia’s third-largest economy with an impressive 8.8 percent growth rate in 2021. Thus regaining the status of the fastest growing emerging economy, India can surpass China’s projected growth rate of 8.2 percent.

 

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