India may lag behind Bangladesh in per capita gross domestic product (GDP) in the year 2020. This has been said in a report by the International Monetary Fund (IMF). In this case, India can also lag behind Maldives, Bhutan and Sri Lanka. Let us know what is the capita ie per capita GDP and why India is lagging behind in this?
According to a report by the International Monetary Fund (IMF), Bangladesh’s per capita GDP could remain at $ 1,888 (about Rs 1.38 lakh) this year, while India’s per capita GDP could remain at $ 1,877 (about Rs 1.37 lakh). This will be due to the steep decline in the Indian economy due to the Corona crisis.
Will it lag behind Bhutan and Sri Lanka?
According to the IMF, Bangladesh’s per capita GDP will grow by 4 per cent this year, on the other hand, India’s per capita GDP is expected to decline by about 10.5 per cent this year. According to the report, in South Asia, India will be ahead of only Nepal and Pakistan in terms of per capita GDP. In this case, he can also lag behind Maldives, Bhutan and Sri Lanka.
India’s GDP was 2875 billion dollars in the year 2019 and the population was around 136 crores. This year India’s population may be 138 crores. On the other hand, in 2019, Bangladesh had a GDP of $ 302 billion and its population is around 16 crore. This year, in 2020, the population there is estimated to be 165 million.
What is GDP?
Gross domestic product (GDP) is the total monetary or market value of all goods and services produced within a specified time within a country’s boundary. It is a comprehensive measurement of a country’s domestic production and it shows the health of a country’s economy. It is usually calculated annually, but in India it is judged every three months i.e. quarterly. A few years ago in India, separate services like education, health, banking and computers were also added.
What is per capita GDP?
Per capita GDP indicates how much per capita economic output in a country. It is calculated by dividing the total population of a country into its total gross domestic product (GDP). It is nowadays considered to be a better measure than GDP to measure the economic prosperity of a country. It is often seen that developed industrialized countries with small, sparsely populated countries have very high GDP per capita.
The per capita GDP of Bangladesh is also increasing more than India this year because the population there is much less than India and GDP is increasing.