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Article about india vs bangladesh live:
Why Bangladesh and India’s per capita GDP should not be compared. The latest report on World Economic Outlook by the International Monetary Fund (IMF) published in October 2020 has created a lot of noise both in Bangladesh and India. To recap, the IMF has projected that in 2020 per capita GDP of Bangladesh will be USD 1,887.97 at current prices.
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India will have a per capita GDP of USD 1,877 in 2020. These changes in the respective economies will be due to a 3.8 percent increase in Bangladesh's GDP and 10.3 percent decline in India's GDP in 2020. The IMF outlook also indicates that in 2021 India will see a rise of its per capita GDP by 8.8 percent while Bangladesh will see a rise of 4.4 percent. As a result, in 2021 India's per capita GDP will reach USD 2,030 and Bangladesh's USD 1,990. IMF's projection till 2025 indicates that in 2024 India will surpass Bangladesh and in 2025 Bangladesh will be ahead of India in terms of per capita GDP. For all latest news, follow The Daily Star's Google News channel. Reactions to these estimates have been divergent in both the countries. In Bangladesh, the government is understandably happy and proud of this accomplishment. Some analysists have credited the government for its efforts while many others have suggested it should do better by addressing existing challenges. In India, a number of media outlets have lauded Bangladesh's achievement and suggested the Indian policymakers reflect on what went wrong in India and what worked for Bangladesh. Indian opposition political party saw it as the failure of the current Modi government. Many have blamed the weak management of Covid-19 which had a negative impact on the Indian economy. Yet another group of Indian media was rather unkind in expressing their views on the IMF's projections. While interpreting the numbers, they stretched their words to undermine Bangladesh's achievement. They referred to non-compliance in the readymade garments (RMG) industry, violent political confrontation, corruption and Islamic radicalism. But not all of it is correct. Also, these are not unique to Bangladesh. Many countries around the world which have much higher incomes than Bangladesh are facing various types of limitations. Political violence and corruption are typical to all least developed and developing countries including the South Asian countries. During the last several years, Bangladesh's RMG entrepreneurs have been working hard to improve compliance and have been successful in earning buyers' confidence by doing so. The current government of Bangladesh has been strong-handedly controlling Islamic radicalism in the country after a few incidents. One should not forget that this is a global problem and therefore, without global effort it is not possible to root out religious extremism. For both countries, there is no reason to overreact to these projections on per capita GDP for a number of reasons. First, using GDP as an indication of achievement has been criticised by economists for long. The very method of calculating GDP is flawed and it fails to show the real health of the economy. To avoid repetition, I am not discussing those here. But readers may refer to my earlier pieces on this topic ("Our incomprehensible obsession with GDP", May 19, 2019 and "Bangladesh's GDP growth number does not hold water", August 17, 2020).
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Article about india vs bangladesh live:
Why Bangladesh and India’s per capita GDP should not be compared. The latest report on World Economic Outlook by the International Monetary Fund (IMF) published in October 2020 has created a lot of noise both in Bangladesh and India. To recap, the IMF has projected that in 2020 per capita GDP of Bangladesh will be USD 1,887.97 at current prices.
➤ â–º ðŸŒðŸ“ºðŸ“±ðŸ‘‰ Click here for india vs bangladesh live
India will have a per capita GDP of USD 1,877 in 2020. These changes in the respective economies will be due to a 3.8 percent increase in Bangladesh's GDP and 10.3 percent decline in India's GDP in 2020. The IMF outlook also indicates that in 2021 India will see a rise of its per capita GDP by 8.8 percent while Bangladesh will see a rise of 4.4 percent. As a result, in 2021 India's per capita GDP will reach USD 2,030 and Bangladesh's USD 1,990. IMF's projection till 2025 indicates that in 2024 India will surpass Bangladesh and in 2025 Bangladesh will be ahead of India in terms of per capita GDP. For all latest news, follow The Daily Star's Google News channel. Reactions to these estimates have been divergent in both the countries. In Bangladesh, the government is understandably happy and proud of this accomplishment. Some analysists have credited the government for its efforts while many others have suggested it should do better by addressing existing challenges. In India, a number of media outlets have lauded Bangladesh's achievement and suggested the Indian policymakers reflect on what went wrong in India and what worked for Bangladesh. Indian opposition political party saw it as the failure of the current Modi government. Many have blamed the weak management of Covid-19 which had a negative impact on the Indian economy. Yet another group of Indian media was rather unkind in expressing their views on the IMF's projections. While interpreting the numbers, they stretched their words to undermine Bangladesh's achievement. They referred to non-compliance in the readymade garments (RMG) industry, violent political confrontation, corruption and Islamic radicalism. But not all of it is correct. Also, these are not unique to Bangladesh. Many countries around the world which have much higher incomes than Bangladesh are facing various types of limitations. Political violence and corruption are typical to all least developed and developing countries including the South Asian countries. During the last several years, Bangladesh's RMG entrepreneurs have been working hard to improve compliance and have been successful in earning buyers' confidence by doing so. The current government of Bangladesh has been strong-handedly controlling Islamic radicalism in the country after a few incidents. One should not forget that this is a global problem and therefore, without global effort it is not possible to root out religious extremism. For both countries, there is no reason to overreact to these projections on per capita GDP for a number of reasons. First, using GDP as an indication of achievement has been criticised by economists for long. The very method of calculating GDP is flawed and it fails to show the real health of the economy. To avoid repetition, I am not discussing those here. But readers may refer to my earlier pieces on this topic ("Our incomprehensible obsession with GDP", May 19, 2019 and "Bangladesh's GDP growth number does not hold water", August 17, 2020).
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