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Just today I commented on a similar post and idiots started replying, 'GDP growth is the only way to solve it.' We can't create enough jobs, so we just brainwash people with a few fake numbers and say we're winning! Even Bangladesh is doing better than us and they just had a massive political mess.
Vishwaguru moment /s
Don't want to be 'that guy', but the way economists calculate per‑capita income is nonsense. They take the total GDP and divide it by the whole population without considering income inequality. If 100 people exist and two of them earn 10 cr each while the other 98 make a total of 10 lakh, the per‑capita figure becomes about 20.1 lakh. Where's the sense in that? 98 % of people haven't even seen that much money, yet the 'math' says they're earning over 20 lakh a year. Per‑capita should be measured on the ground – you can't just jump from one class of people to another because there's no way every Indian makes almost 2 lakh each year.
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But we call ourselves Vishwaguru and claim to be the most developed nation on the planet.
There's an ongoing probe about possible Pakistani links to this report /s
The rank drop is mostly because the rupee has depreciated, not because the economy is in a downturn. Compare GDP per capita PPP for a clearer picture – though we aren't doing great there either.
Iran, which has been under sanctions for almost four decades, still has a higher GDP per capita than India. That shows how well India is doing per person. But the government loves to brag about being the 4th or 5th largest economy. The real measure of a country's progress should be the quality of life of the average citizen, and that has only improved a little.
This is basically a population‑math issue, not a government‑specific one. India's per‑capita GDP has always been low in global rankings – we were around 140‑145 even during the UPA years. The total GDP grew faster under the BJP – per‑capita rose from about $1,600 in 2014 to about $2,800 now. But when you divide by 1.4 billion people, the rank barely moves. Bangladesh overtaking us wasn't sudden. Their per‑capita was about 60 % of ours in 2010 and they closed the gap steadily – thanks to garment exports, strong remittances, women joining the workforce in large numbers, NGO‑driven rural development (BRAC, Grameen), and a much smaller population (~170 M vs our 1,440 M). The crossover in 2020‑21 sped up because COVID hit our GDP harder that year, but the trend was already there. Were there BJP‑era blunders? Sure – demonetisation and the messy GST rollout caused short‑term GDP hits, and the second COVID wave was brutal. But there were genuine positives too – UPI and digital infrastructure, FDI growth, and a push for manufacturing. The honest answer is that no Indian government – UPA or BJP – has solved the per‑capita problem because the denominator is just too massive. Bangladesh didn't overtake us because we failed; they ran their own race well with a fraction of our population. Blaming or crediting any single party for where we sit on this list is mostly coping.
And we're paying first‑world prices for everything – a crore for a flat, 700 rupees for a pizza, 30 % tax.