IMF estimates – India will become the third poorest country in South Asia next year, GDP will come down

In 2019, India’s GDP was 11 times more than that of Bangladesh, while the population was 8 times more. Now the International Monetary Fund (IMF) estimates that this year, India will lag behind neighboring country Bangladesh in terms of per capita GDP. If this happens, India will become the third poorest country in South Asia. Not giving much priority to this IMF estimate, the government said that in 2019, India’s GDP was 11 times more than Bangladesh in terms of PPP.

The IMF has estimated India’s per capita GDP to be $ 6284 in 2020 as per PPP. The per capita GDP of Bangladesh is estimated at $ 5139. The IMF has estimated India’s GDP rate to be 8.8 percent in 2021. This is double the estimate of Bangladesh’s GDP rate of 4.4 percent.

Estimates of the biggest decline in India

The IMF has reduced its estimates for the Indian economy significantly compared to June. It is estimated that India will have the biggest decline in the world’s major emerging markets amid the Kovid-19 epidemic. This year the Indian economy is expected to fall by 10.3 percent. In the tenure of the Narendra Modi government, the per capita GDP has increased from Rs 83,091 in 2014-15 to Rs 1,08,620 in 2019-20, an increase of 30.7 percent.

However, with this the IMF predicts that in 2021, there will be a huge boom in the Indian economy and it will register a GDP of 8.8 percent. During this time, China’s GDP rate has been estimated to be 8.2 percent. According to the IMF, the US economy will decline by 5.8 percent in 2020. Next year, the US economy will register a growth of 3.9 percent.