Per capita annual income rises to $1044 in 2012-13

[jaunty]

Congrats to the people of Bangladesh. You did a great job by electing a capable leader like Sheikh Hasina Wazed. With BAL in power your country is in safe hands.

 

[eastwatch]

Nothing can hurt indian GDP you know they are dynamic....they'll add rat as a new food item, selling children as a new business, all these add to GDP....no ?

Why BD guys are worried about Indian economy?

India is a great economy, therefore, and cannot be compared with ours. Only problem is its currency is fast approaching a value of a backward lungiwala BD currency. So, Indian economy is only being superficially looked like ours.

 

[Indian Gurkha]

That is without accounting for inflation which again adds to the GDP.

This is why developing economies always report their GDP figures adjusted to a particular base year because inflation in these countries is very high unlike the developed countries. Which is why India's GDP will be revised upwards once the base year is changed to 2010 or 2012.

 

[Shardul.....the lion]

Congrates to Bangladesh.... but no need to belittle India..

 

[CaPtAiN_pLaNeT]

Okay Lungi clad Bangladeshis..time for serious Economic lessons...
Indian GDP in April 2012 =1.824 trillion dollars
Rupee value in 2012 against dollar = 55.86
GDP growth rate in 2012-13= 5 %
Total GDP at present = 1.05*1.824= 1.9152 trillions
Rupee rate today=66 to a dollar
Depreciation from last years value= 1-55.86/66= 15.3%
Therefore GDP value today in dollar terms= 1.6 trillions

and this GDP value is based on 2004 as the base year.
If the base year is taken as 2012 (like Bangladesh)expect GDP to be revised by minimum 10%
So GDP figure today = 1.6*1.1=1.76
So our per capita GDP remains almost the same which is around 1500 dollars

Whoa that must be lot of economics and mathematics to that Madrassa educated brain.

Chill!!! Use that multipurpose lungi to cool ur head Bangals!!!!

Ok Dhoti Clad Indian there are some correction here. 2012 GDP of 1.824 trillion USD measured with INR 47.95 against 1 USD. It is not 55 INR as you are claiming.

So the depreciation will be more here. Now the conversion rate is 68 INR to 1 usd.

So the depreciation from previous year is = 1 - 47.95/68 = 29.5%

Therefor GDP value in dollar term now 1.35 trillion which is even lower then what @eastwatch said.

Even 10% boost by rebasing the year wont lift the value up that much as it will be 1.485 trillion usd. So a negative GDP growth in terms of USD is certainly going to happen. Better accept it and try to correct it.

Source of 47.95 IRP to USD conversion rate is below::

India to be $2-trn economy by FY13-end? | Business Standard

India may turn into a $2-trillion economy by the end of this financial year, provided the rupee remains below 50.79 against the dollar during this period. The government has projected India's gross domestic product (GDP) for 2012-13 at Rs 101 lakh crore, against Rs 88 lakh crore in 2011-12—a growth of 14.7 per cent.

In 2011-12, when the rupee stood at an average of 47.95 against the dollar, the size of the economy was $1.84 trillion at current prices (including indirect taxes). A growth of 14.7 per cent would mean the economy would expand to $2.11 trillion.

 

[eastwatch]

"India to be $2-trn economy by FY13-end? | Business Standard

India may turn into a $2-trillion economy by the end of this financial year, provided the rupee remains below 50.79 against the dollar during this period. The government has projected India's gross domestic product (GDP) for 2012-13 at Rs 101 lakh crore, against Rs 88 lakh crore in 2011-12—a growth of 14.7 per cent.

In 2011-12, when the rupee stood at an average of 47.95 against the dollar, the size of the economy was $1.84 trillion at current prices (including indirect taxes). A growth of 14.7 per cent would mean the economy would expand to $2.11 trillion."

Source: http://www.defence.pk/forums/bangla...ome-rises-1044-2012-13-a-5.html#ixzz2e4szze8U
==================================================================

Look at the projection by "Business Standard." It could not foresee the trend of falling INR and was talking of 14.7% growth and a $2.11 trillion GDP. Now, Indian economy has shrunk to a pitiful 4% growth and a $1.35 trillion GDP.

Indian posters love to eat Korma & Polau/Biriyani in their dreams. This non-standard Business Standard is no exception to that.

 

[eastwatch]

people have not noticed post# 60 that says the GDP stands at $153.58 billion in current prices. It is not $151 billion as in some other news says.

Quotation from post# 60, "Under the new base year, fiscal 2012-13′s gross domestic product (GDP) in current prices stood at $153.58 billion."

 

[Anubis]

Do our Remittance count as GDP??

 

[LaBong]

Do our Remittance count as GDP??

remittance will be deducted while calculating gdp.

 

[TopCat]

Do our Remittance count as GDP??

No its not..

GNI = GDP + External Income (Remittance)

 

[Skies]

I wish if Taka appreciates more and more so that I can buy expensive electronic devices at low cost. I am greedy for electronic devices. lol

 

[Roybot]

Oh come on ! ! BD people are illegally migrating in India and pale vaulting because they are supa powa
@Roybot @Dillinger @LaBong
and others

The remittance to India from Bangladesh, the numbers don't add up. If there are 500,000 Indian workers in Bangladesh and they are remitting $3416 Million in a year, thats around $7500 per person per annum remittance. If each Indian illegal labour is sending that kind of money back home, they must be making atleast $10,000 as opposed to $1050 per capita gdp of Bangladesh. Geez I wonder whats so special about these Indian labourers that they are being paid 10 times more than an average Bangladeshi. So always do your math before trolling, you end up looking stupid otherwise.

It looks like a lot of Bangladeshi black money is coming to India in the name of "Remittance". Good for us.

And I don't believe in defending something you can't defend. Yes India economy has taken a hit thanks to the depreciating rupee, thanks to the Congress party, however all is not lost. Its too early to write India off, we ll be back and back with a bang.

Rupee has already started strengthening, it nearing 65 to a dollar and is expected to come down to 63 soon


Raghuram Rajan effect? Rupee may rise to 63/dollar, analysts say - NDTVProfit.com

Japan, India expand rupee swap line to $50 billion - NDTVProfit.com

 

[Jako]

people have not noticed post# 60 that says the GDP stands at $153.58 billion in current prices. It is not $151 billion as in some other news says.

Quotation from post# 60, "Under the new base year, fiscal 2012-13′s gross domestic product (GDP) in current prices stood at $153.58 billion."

So now a langtodeshi questioning economists of business standard? Do you have any idea how GDP is calculated. What accounts for GDP growth? Real growth rings a bell? Inflation?

 

[BDforever]

The remittance to India from Bangladesh, the numbers don't add up. If there are 500,000 Indian workers in Bangladesh and they are remitting $3416 Million in a year, thats around $7500 per person per annum remittance. If each Indian illegal labour is sending that kind of money back home, they must be making atleast $10,000 as opposed to $1050 per capita gdp of Bangladesh. Geez I wonder whats so special about these Indian labourers that they are being paid 10 times more than an average Bangladeshi. So always do your math before trolling, you end up looking stupid otherwise.

It looks like a lot of Bangladeshi black money is coming to India in the name of "Remittance". Good for us.

And I don't believe in defending something you can't defend. Yes India economy has taken a hit thanks to the depreciating rupee, thanks to the Congress party, however all is not lost. Its too early to write India off, we ll be back and back with a bang.

Rupee has already started strengthening, it nearing 65 to a dollar and is expected to come down to 63 soon


Raghuram Rajan effect? Rupee may rise to 63/dollar, analysts say - NDTVProfit.com

Japan, India expand rupee swap line to $50 billion - NDTVProfit.com

do not be angry

 

[Roybot]

do not be angry

Who is angry. Do you agree that illegal poor Indians laborers, working in Bangladesh, get more pay ($10,000) than the prime minister and president of Bangladesh?