India Stagnates at around $ 2000 per Capita GDP

India Stagnates at around $ 2000 per Capita GDP
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Yesterday, India released latest GDP numbers. Let us look at India’s per capita GDP in dollar terms for last 7 years. Exchange value on March 31st was considered.

Year ending March 2014: $1499

Year ending March 2015: $1580

Year ending March 2016: $1619

Year ending March 2017: $1829

Year ending March 2018: $2001

Year ending March 2019: $2060

Year ending March 2020: $2014

Year ending March 2021: $1915? (Estimated)

Since March 2018, the Indian economy on a per capita basis has not changed by much. In fact, by next March it could be closer to 2017 levels. The first 6 years of Modi regime until March 2020 has delivered a per capita growth in dollar terms of 34.4%. On a constant price basis (Indian Rupees), Per capita is up 39% in these 6 years. During this period, Bangladesh moved from $ 1110 in March 2014 to around $ 1900 by March 2020, a growth of 71%

Hopefully recent huge reforms and turnaround in the economy will take India back to $ 5 Trillion path by 2024.

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