Bangladesh overtakes India in per capita GDP: IMF
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Lol..I thought I was extreme by proposing public lashings for those who go shopping in India. You see this is why I also do not care about smugglers who get shot by BSF while smuggling in Indian products into BD.
There should be a complete ban on identity (race, religion, etc.) politics.
SBUS-CXK
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The Accountant
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Brother saaree is something kolkatta is famous for.people buy gold and mobile phones from dubai as its cheap there. Does this means dubai is cheaper than Pakistan ?“We used to buy medicines for three-four months, everytime. Now we have to rely on third parties to bring the medicines. The cost is double than the usual cost ofTk30,000 -- for medicines for three months,” said Borhan.
Shanaz Afrin, who owns an online shop, said for the last 10 years, her family has been visiting Kolkata twice a year for the purpose of shopping and travelling. The price of sarees is half in Kolkata than in Bangladesh, based on which she opened an online shop to sell products of Kolkata.
“But I am in trouble too,” she added.
Kolkata markets deserted for lack of Bangladeshi visitors
Consumer Prices in India are 25.89% lower than in Bangladesh Consumer Prices Including Rent in India are 20.73% lower than in Bangladesh Rent Prices in India are 17.46% higher than in Bangladesh Restaurant Prices in India are 14.45% lower than in Bangladesh Groceries Prices in India are 17.80% lower than in Bangladesh Local Purchasing Power in India is 94.91% higher than in Bangladesh
Cost of Living Comparison Between Bangladesh and India
@DalalErMaNodi There is a supply side constraint in Bangladesh which results in inflation. People choosing to get more value for money doesn't make them morons. And don't worry as more and more people get rich, more will travel directly to India, and more will become morons.
@The Accountant You clearly lack the understanding of inflation. India has higher inflation than USA. And Bangladesh has higher inflation than India. I think you meant higher income.
Supply chain of one item might be higher in bangladesh while other might be lower.
Rather than claiming that i dont understand inflation can u give price comparison of financial capital of both countries i.e. mumbai v/s dhaka.
Proves of common items food etc.
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India-Bangladesh Per Capita GDP Comparison: Wasted Decades Cannot Be Compensated For In Months
by Karan Bhasin- Oct 18, 2020 05:46 AM
Bangladeshi garment workshop
Snapshot
It has suddenly dawned upon the Opposition parties, media, expert commentators, and other pundits that Bangladesh has managed to build a thriving economy primarily dependent on export markets. That it has swiftly been diversifying from just textile exports is also a fact that was perhaps missed by many over the last several years.
Their economic success is being contrasted with the economic contraction in India due to the pandemic and lockdowns.
It is imperative to state at the onset that such comparisons are fundamentally flawed – and if we were to undertake such comparisons then we must also seek accountability for how India’s per capita income fell drastically even as countries such as China registered an impressive increase in their per-capita incomes. The same holds true for the East Asian tigers along with a host of other economies.
There are two compelling issues here that need to be adequately discussed. First pertains to the comparisons being made, and the second with regards to our sudden realisation of the fact that we need to catch up.
On the comparison being made by many, including the one shared by India’s Opposition; it compares the GDP per capita at market exchange rates. This figure would be extremely sensitive to any changes in the value of exchange rates and is therefore not the correct metric for any such comparisons.
Needless to say, however, that Bangladesh will at some point have a higher per-capita income than India. This is because India has a higher population than Bangladesh so even though we have a higher GDP in absolute levels, the per capita figure could be smaller in future years.
The best way to prevent this would be to enhance productivity to the extent that our per-capita GDP growth is faster than the one experienced in Bangladesh. Strong domestic reforms, especially factor market reforms attempt at achieving precisely the same.
The other point pertains to the sudden realisation of Bangladesh marching ahead – or the very prospects of them having a higher per-capita GDP even if at market exchange rates.
This realisation augurs well for India as it would perhaps further encourage policymakers to look at the economic success of countries such as Bangladesh, Vietnam, Cambodia, Indonesia, Taiwan, South Korea etc.
Some of the East Asian Tigers along with China had very similar economic conditions; however, even as they took off, we were too busy pursuing our delusional economic model based on Nehruvian Socialism. Excessive regulations, lack of economic freedom, increased influence of the State in economic decisions were all responsible for India lagging.
Despite that, the conventional view on reforms was resisted by the political system and reforms were often undertaken as a compulsion rather than conviction.
However, 2014 and 2019 changed things as since 2014 we have witnessed several economic reforms that are an outcome of conviction of the government. But the key question that must be asked of the political Opposition is regarding their failure to enact some of these reforms between 2004–2014.
The lack of economic reforms in those 10 years is perhaps responsible for delaying the reforms agenda if not derailing them. The consequence of this, was the loss of momentum that was generated after the 1991 reforms which were furthered by the second-generation reforms in early 2000s.
That Bangladesh is doing well on the economic front must be appreciated as its augurs well for the global economy – and for the global fight against poverty. It must be viewed as a lesson, a reinforced lesson that our failure to embrace reforms would systematically result in us lagging.
This must also serve as a lesson for India’s political Opposition on the need to dismantle their love for Nehruvian Socialism. More importantly, the opposition should refrain from blaming the current government for something that is an outcome of their decades of fascination with an ideology that is responsible for our poor economic performance for many years post-independence.
by Karan Bhasin- Oct 18, 2020 05:46 AM
Snapshot
- 2020 would not suddenly give the desired data if the majority of the years preceding it, since Independence, have been spent in preventing economic reforms rather than enacting them.
It has suddenly dawned upon the Opposition parties, media, expert commentators, and other pundits that Bangladesh has managed to build a thriving economy primarily dependent on export markets. That it has swiftly been diversifying from just textile exports is also a fact that was perhaps missed by many over the last several years.
Their economic success is being contrasted with the economic contraction in India due to the pandemic and lockdowns.
It is imperative to state at the onset that such comparisons are fundamentally flawed – and if we were to undertake such comparisons then we must also seek accountability for how India’s per capita income fell drastically even as countries such as China registered an impressive increase in their per-capita incomes. The same holds true for the East Asian tigers along with a host of other economies.
There are two compelling issues here that need to be adequately discussed. First pertains to the comparisons being made, and the second with regards to our sudden realisation of the fact that we need to catch up.
On the comparison being made by many, including the one shared by India’s Opposition; it compares the GDP per capita at market exchange rates. This figure would be extremely sensitive to any changes in the value of exchange rates and is therefore not the correct metric for any such comparisons.
Needless to say, however, that Bangladesh will at some point have a higher per-capita income than India. This is because India has a higher population than Bangladesh so even though we have a higher GDP in absolute levels, the per capita figure could be smaller in future years.
The best way to prevent this would be to enhance productivity to the extent that our per-capita GDP growth is faster than the one experienced in Bangladesh. Strong domestic reforms, especially factor market reforms attempt at achieving precisely the same.
The other point pertains to the sudden realisation of Bangladesh marching ahead – or the very prospects of them having a higher per-capita GDP even if at market exchange rates.
This realisation augurs well for India as it would perhaps further encourage policymakers to look at the economic success of countries such as Bangladesh, Vietnam, Cambodia, Indonesia, Taiwan, South Korea etc.
Some of the East Asian Tigers along with China had very similar economic conditions; however, even as they took off, we were too busy pursuing our delusional economic model based on Nehruvian Socialism. Excessive regulations, lack of economic freedom, increased influence of the State in economic decisions were all responsible for India lagging.
Despite that, the conventional view on reforms was resisted by the political system and reforms were often undertaken as a compulsion rather than conviction.
However, 2014 and 2019 changed things as since 2014 we have witnessed several economic reforms that are an outcome of conviction of the government. But the key question that must be asked of the political Opposition is regarding their failure to enact some of these reforms between 2004–2014.
The lack of economic reforms in those 10 years is perhaps responsible for delaying the reforms agenda if not derailing them. The consequence of this, was the loss of momentum that was generated after the 1991 reforms which were furthered by the second-generation reforms in early 2000s.
That Bangladesh is doing well on the economic front must be appreciated as its augurs well for the global economy – and for the global fight against poverty. It must be viewed as a lesson, a reinforced lesson that our failure to embrace reforms would systematically result in us lagging.
This must also serve as a lesson for India’s political Opposition on the need to dismantle their love for Nehruvian Socialism. More importantly, the opposition should refrain from blaming the current government for something that is an outcome of their decades of fascination with an ideology that is responsible for our poor economic performance for many years post-independence.
India-Bangladesh Per Capita GDP Comparison: Wasted Decades Cannot Be Compensated For In Months
2020 would not suddenly give the desired data if the majority of the years preceding it, since Independence, have been spent in preventing economic reforms rather than enacting them.
swarajyamag.com
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Opinion
India must compete with Bangladesh first before competing with the US and China
By Aakar Patel
October 18, 2020 at 8:00 AM
Complex problems require many minds. Leadership is important but mostly in terms of giving direction. The solutions need to be produced by those implementing, not the person directing. If this is reversed, progress will not to be made and generally what results is retardation.
For solutions to be produced below the level of leadership, it is necessary that there be some devolution of authority and power. Such is not the case in India of our times. The leadership of this large and complex nation is centralised in a way that it has never been in our history. There are some parallels with Indira Gandhi but the 1970s was another world.
Some of the most important positions in the Cabinet are filled by those who have never won an election. The finance minister, foreign minister, railways and commerce and industry minister-- none of them are elected. The previous finance minister was also unelected.
They owe their position not to personal political popularity but to the patronage of Modi. They cannot defy him and they will do what he says. That is why they have in fact been chosen and placed there. The moment they defy or question, they will be replaced by someone who will keep their mouth shut but keep their job.
There is no devolution of authority and none of accountability.
When things begin to go wrong in such a place, the leader cannot be blamed or even named. It will be assumed that he is right and the solution lies not in correcting his behaviour but in something else.
A few weeks ago, there was this headline in the online publication The Print: "Modi govt plans media blitz for ‘image correction’ to boost India rank on global lists”. It reported that the government was trying to improve India’s ranking on some 30 global indices by "building a massive publicity campaign” which was a "planned perception-overhaul exercise”.
These indices are those which monitor religious, economic, political, media freedoms, the rule of law, innovation, terrorism and other things.
Either data is compiled or global experts are asked for their perceptions and then countries given a score or rating.
Many of these are compiled by bodies that are multilateral, such as the World Bank or the United Nations. It is not clear how India will get its poor ratings improved through a media campaign when it comes to such bodies or when it comes to hard data.
For instance, India is ranked 142 on the World Press Freedom Index, falling from 140 in 2019 and 138 in 2018. The main reason for its falling is the violence against journalists and the number of internet shutdowns in Kashmir.
These are objective things that are measurable. They cannot be corrected by publicity campaigns.
This year India has introduced a new media policy in Kashmir that has more or less throttled all freedom of media in that state.
The government’s response in the instance of the media index was to set up its own ‘Index Monitoring Cell’ which would have journalists like Rajat Sharma (of Aap ki Adalat fame). Not much has been heard from this cell since and it will not affect the global rating. India’s ranking in press freedom is not going to improve globally next year either and spending money on marketing an image that is removed from reality is neither wise nor will it be effective.
India’s numbers on COVID are self-declared. These are government numbers. They can and they will be compared to how India is doing versus the rest of the world and particularly the rest of South Asia with which an honest comparison can be made. On infections and fatalities, our performance is below the rest. A media blitz will not correct the perception that India has been the least competent in addressing the issue because the perception is based on reality.
This week has come news that in the current financial year, Bangladesh will overtake India in terms of per capita income. Meaning that the average Bangladesh’s income will be more than the average Indian’s. Even to those who are referred to as Modi haters, this was shocking. It was not expected because India was far ahead of Bangladesh in terms of per capita income in 2014.
One reason for their overtaking us is that the Bangladeshi leadership handled the COVID hit to their economy better.
The other reason is that in the last six years, Bangladesh has been growing much faster than India. It would have overtaken us anyway in course of time. The COVID fall just made it sooner. It has been a long slide that has not been in the public realm because the leader does not acknowledge it and the minions cannot speak.
It seems like we were talking about competing with China and the US only a few years ago. Now we must first compete with Bangladesh. This is not what we had been promised.
How will this be corrected by a media blitz?
It will not.
But it is what the great man has ordered so it will be done.
The slide will continue, the noise about achche din will also continue.
For all the latest India News, Follow IndiaSection.
India must compete with Bangladesh first before competing with the US and China
Deluding ourselves is a national pastime and we seem to believe that we are well on our way to become ‘Vishwa Guru’. Nothing can be farther from truth
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DalalErMaNodi
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Burnol Thread.
I’m shocked that India’s biggest export is not bringing up their gdp per capita
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Man accused of raping a cow claims it is the reincarnation of his dead wife | News Break
Pleasanton, TX | A man of Indian origin recently arrested for sexually molesting a cow on a Texan ranch claims the animal is, in fact, the reincarnation of his deceased wife. Rajiv Chowdhury, 34, was intercepted this week by Atascosa County police after ranch owner Ted Bukowski called police...
SBUS-CXK
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Hi friend. this prediction is accurate and reliable? I want to know whether China's per capita GDP can approach 20k USD in 2030? because according to CCP propaganda: China will become a junior developed country in 2050，This makes me a little irritable. I want to know the true prediction.
Some chinese scholars said. The probability of China becoming a developed country in 2050 is only 20%,
2050ÄêÖйú³ÉΪÖеȷ¢´ïÉç»áµÄ¸ÅÂÊÖ»ÓÐ20%_ÐÂÎÅÖÐÐÄ_ÐÂÀËÍø
2050ÄêÖйú³ÉΪÖеȷ¢´ïÉç»áµÄ¸ÅÂÊÖ»ÓÐ20%
news.sina.com.cn
Shorisrip
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I don't think that prediction is wrong. China has all the development indicators in place to become a developed country as early as 2040. The only hurdle is the decreasing birth rate, especially due to the effects of the one-child policy. An aging population may struggle to provide the necessary labour to pull through, but it can be solved through automation.
SBUS-CXK
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thank you. What do you think is China's per capita GDP in 2030?
DalalErMaNodi
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Nominal GDP will be 29 trillion USD give or take. This is data from the 2020 WELT report from CEBR.
Population will be 1.44 billion in 2030 Source
29 trillion USD ÷ 1.44 billion is $ 20,100+
Last edited:
SBUS-CXK
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We will see the results in 2050. Let's wait.
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I’m shocked that India’s biggest export is not bringing up their gdp per capita
Man accused of raping a cow claims it is the reincarnation of his dead wife | News Break
Pleasanton, TX | A man of Indian origin recently arrested for sexually molesting a cow on a Texan ranch claims the animal is, in fact, the reincarnation of his deceased wife. Rajiv Chowdhury, 34, was intercepted this week by Atascosa County police after ranch owner Ted Bukowski called police...
I've seen this before. This idiot went all the way to Texas and could not stay away from his old bestial habits.
In what way did his wife resemble this cow??
OK I know. I know the answer.
Thank you Indians for destroying Bangladeshi and Pakistani reputation.
I have to face curious questions from White and other folks next.
What will happen to the South Indian dream of owning Caucasian servants and slaves? Hmmm...
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