(a) whether the International Monetary Fund Global Economic Outlook report has projected that Bangladesh is set to surpass India’s per capita income in 2020 and if so, the reasons therefor;
(b) whether the report states that the Indian economy will be among the steepest declining economies in the world in 2020 and if so, the details thereof; and
(c) whether it is true that five years ago, India’s per capita income was 40 per cent higher than that of Bangladesh and if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) As per International Monetary Fund’s (IMF’s) World Economic Outlook (WEO) report, October 2020, India’s per capita Gross Domestic Product (GDP) in purchasing power parity (PPP) terms in 2020 is estimated at US$ 6283.57 as compared to US$ 5138.58 for Bangladesh.
(b) As per IMF’s WEO Update, January 2021, the Indian economy is estimated to grow at
(-) 8% in 2020, a contraction smaller than that of Spain (-11.1%), Argentina (-10.4%), United Kingdom (-10%), Philippines (-9.6%), Italy (-9.2%), France (-9%) and Mexico (-8.5%).
(c) As per IMF’s WEO report, October 2020, India’s per capita GDP in PPP terms in 2015 was US$ 5464.86, 46.7 percent higher than that of Bangladesh (US$ 3724.26).
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