Bangladesh to surpass India in per capita GDP

Bangladesh to surpass India in per capita GDP

Bangladesh to surpass India in per capita GDP: Recent IMF estimates suggest that Bangladesh will surpass India in per capita GDP for the 2020-21 financial year. This makes India’s GDP per capita the third lowest in South Asia compared to Pakistan and Nepal.

The International Monetary Fund (IMF) has forecast that the Indian economy will shrink by 10.3 percent in 2020-21 from a 4.5 percent decline in June following the collapse of the Covid-19 pandemic. The IMF said global growth would be 4.4 percent, the highest since the resurgence in June. The Reserve Bank has announced a 9.5 percent cut in the Indian economy by 2020-21. India’s GDP is projected to be $ 1,876.53 by 2020, which is less than the $ 1,887.97 allocated for Bangladesh.

Till 5 years back, India's per capita GDP was ~40% higher than Bangladesh's. However, India's focus is on reviving growth across the non-agricultural sectors would surpass the $2,000 per capita mark next year (21). In PPP terms, IND vs BGD is estimated to be at $6,284 vs $5,139. pic.twitter.com/R1rFMjD6dB

— Koshex (@KOSHEXHQ) October 16, 2020

In the last five years, the GDP of every Indian has been 24 percent higher than that of Bangladesh. However, India’s per capita GDP is projected to exceed GDP per capita by 2021, at $ 2,030.62 compared to the IMF’s last 98 1,989.85. However, this trend is unlikely to last long as every Indian GDP is expected to fall to $ 2,544.26 by 2024, compared to $ 2,544.32 over Bangladesh’s GDP. By 2025, India’s per capita GDP is projected at $ 7,729.24, which is less than the proposed Bangladesh GDP of $ 2,756.10. 11 more than Bangladesh in 2019.

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