Sunday, September 4, 2022
Islamabad (Urdu Point Newspaper Latest - Online 04 Sep 2022) India has become the world's fifth largest economy in terms of gross national product (GDP), but when it comes to prosperity, poor India is still Britain. 20 times behind. According to the latest Bloomberg data, India overtook the United Kingdom in GDP at the end of March 2022. India's economy was worth $854.7 billion at the end of March this year. while the UK economy was $816 billion.
India's main handicap is its extremely low per capita income. The population of Britain is about 67 million and the current population of India is estimated at about 138 million. No, because India is still 20 times behind Britain in terms of prosperity.
Senior journalist and economic analyst MK Venu says, "In terms of the overall size of the economy, India will overtake the UK, it was bound to happen."
The economic situation of the people is important. Per capita income remains unchanged. The UK has more than $45,000, while India still only has $2,000 a year, says Venu.India is still far behind the UK on this scale. India is still among the most backward countries in terms of per capita income.
In such a situation, it is incorrect to say that India has left Britain behind economically. Arun Kumar, professor and economics expert at JNU, says India's population is almost twenty times that of Britain. If our GDP is almost equal to theirs, that means we are twenty times behind them in per capita income. It is not correct to compare the economy of UK and India, this comparison is wrong, GDP of India and UK can be compared but not prosperity, we are far behind UK in per capita income.
