INDIA’S FOCUS SHOULD SHIFT TO PER CAPITA GDP FOR DEVELOPMENT.
Why in the news?
China and India’s economic comparison, highlighting the significance of per capita GDP growth for individual prosperity and national development.
source:IE
About the Per Capita GDP Focus:
- China’s sustained growth led to its per capita GDP crossing $10,000 by 2019, showcasing the importance of individual prosperity.
- India’s growth, though steady, has been comparatively slower, with real GDP expanding at around 6% annually.
- India’s nominal GDP in 2022 stands close to China’s level in 2007, highlighting the need for accelerated growth to catch up.
- India’s target of a “Viksit Bharat” or developed India by 2047 aligns with achieving higher per capita GDP levels for enhanced prosperity.
What is Vision India 2047?
What are the Aspects of Viksit Bharat?
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