Growing
Faster than China ?
There is no denying that India
has made a lot of progress on the economic front during past 12 months , under
structural reforms undertaken by the NDA government
But when Economists and leading Rating Agencies talk of " India's economy is growing at a rate , faster than China's " , some clarifications become necessary
Just look at the following comparison between China and India :
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Parameter / China / India
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Population / 1.36 billion / 1.25 billion
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GDP / $ 9.24 Trillion / $ 1.88 Trillion
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Life Expectancy / 75.35 years / 66.46 years
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Area / 9.57 million Sq Km / 2.97 million Sq Km
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Per Capita GDP / $ 6,807 / $ 1,498
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GDP Increase / @ 7% = $ 647 Billion / @ 8% = $ 150 Billion
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Now , of course , it is entirely possible for India's absolute GDP increase to overtake China's absolute GDP increase , if
> China's growth-rate keeps declining ( > 6 % > 5 % > 4 % > 3 % .... )
and ,
> India's growth-rate keeps accelerating ( > 9 % > 10 % > 11 % ......... )
Except that you don't have to be an Economist to guess that no such thing will ever happen !
It is not that I love NDA less
It is just that I love enlightenment more !
--- hemen parekh
23 June 2015
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