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The poor superpower

below_freezing said:
India - Wikipedia, the free encyclopedia

GDP (nominal): 1.4 trillion USD
Population: 1,210,193,422
Per capita: $1,176

List of Indians by net worth - Wikipedia, the free encyclopedia

Now, lets take into account the fact that 178 billion USD are owned by these top 15 billionaires. The non-billionaire GDP of India then is merely 1009 USD/capita. However, per capita is not income. Income is usually half of per capita, making it 500 USD. The poverty line is 365 USD/capita.
Click to expand...

Some like to gloat over the number of billionaires in their country. Well, india is certainly a success story if you look at the picture from that angle. This is the typical western view of economic progress. They think that people are happy to see the billionaires owning most of the wealth and then claiming to live in a prosperous country.
 
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Prism said:
latest fig are 32% poverty and increase in literacy abt 75%:lol:
Click to expand...

They are 32% when the poverty line is set at Indian standards: 20 rupees a day. The international poverty line is set at $1 a day.
 
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below_freezing said:
India - Wikipedia, the free encyclopedia

GDP (nominal): 1.4 trillion USD
Population: 1,210,193,422
Per capita: $1,176

List of Indians by net worth - Wikipedia, the free encyclopedia

Now, lets take into account the fact that 178 billion USD are owned by these top 15 billionaires. The non-billionaire GDP of India then is merely 1009 USD/capita. However, per capita is not income. Income is usually half of per capita, making it 500 USD. The poverty line is 365 USD/capita.
Click to expand...

I suppose you don't know the basics of economics. How is net worth of individuals related to GDP? GDP is basically the nett produce in materials and services in one year, whereas net worth is accumulated wealth of years and decades and that too which is mostly speculative paper wealth. May be change in net worth in a year has some relation to annual GDP growth.
May be you can compare the individual net worth to countrys net worth. But there is no real measure to net worth of a country, however some people have attempted to measure it.
 
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THis guy is dellussional,even i never saw 50% poverty in any state where ever i gone..even in u.p.
i can agree upto 35-40% in the states like bihar which are now developing fast,and still now the labour cost is 50Rs minimum but this guy says 20
rs per day.
 
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Prism said:
THis guy is dellussional,even i never saw 50% poverty in any state where ever i gone..even in u.p.
i can agree upto 35-40% in the states like bihar which are now developing fast,and still now the labour cost is 50Rs minimum but this guy says 20
rs per day.
Click to expand...

It is actually 32% according to latest report. I am hoping it will reduce further with strong growth.
 
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cross1993 said:
:coffee: Beggars and mobile phone:

20081210_faf2423fa862be505093BeAmGXOI4SwA.jpg


252302186791712109122013915619790135124123.jpg


020932392561.jpg


20104913544431.jpg
Click to expand...

Are they mid-class by indian standards?
 
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