Ashneer Grover
Entrepreneur Ashneer Grover recently emphasized the importance of measuring India’s Gross Domestic Product (GDP) based on per capita income, calling it the “true measure of development.” Grover’s post on X gained significant traction, with users expressing agreement. One user noted India’s GDP rank as 5th globally but highlighted the lower per capita income rank at 128.
While some supported Grover’s stance, emphasizing the need to consider parameters beyond per capita income, like purchasing power parity, mental well-being, and quality of life, others disagreed. A few argued that per capita income, especially in absolute terms, might not accurately reflect standards of living due to varying costs globally.
Also Read: Sundar Pichai’s Diwali Photo, Captured by Chennai Photographer, Draws Reaction from Priyanka Chopra
In contrast, a dissenting view highlighted challenges in using per capita income as a true measurement, citing income distribution disparities and the impact of purchasing power parity. Despite the ongoing debate, S&P Global Market Intelligence predicted India’s rise to the third-largest economy globally by 2030, with a projected GDP of USD 7.3 trillion, fueled by robust economic growth in 2021 and 2022.
Also Read: Mahua Moitra appointed as district president of Krishnanagar amid cash-for-query row
The forecast indicates India’s GDP growth of 6.2-6.3% in the fiscal year ending March 2024, solidifying its position as the fastest-growing major economy. The country’s impressive 7.8% growth in the April-June quarter underscores its economic resilience and potential ascent in the global economic landscape.
The student group 'Shaher-E-Arzoo' expressed firm support for the Waqf Amendment Bill, calling it a…
The 27% tariff hike by US President Donald Trump on Indian goods will have only…
Following the passage of the Waqf Amendment Bill 2024 in both Houses of Parliament, celebrations…
India’s forex reserves jumped $6.6 billion to a five-month high of $665.4 billion for the…
Gautam Buddha Nagar Police, led by CP Laxmi Singh, achieved a historic feat with all…
Prime Minister Narendra Modi called on Bangladesh to bring perpetrators of atrocities against Hindus and…