INDIAN ECONOMY - A CLOSER LOOK

Indian economy is the fifth largest in the world with the GDP at $2.94 trillion. World Economic Outlook of IMF (April 2021) was projected the GDP per capita of India as $2,191. This makes India on 144th position among 194 countries in GDP (nominal) per capita. Countries with highest GDP per capita are Luxembourg ($1,31,302), Ireland ($1,02,394), Switzerland ($93,515), Norway

 ($82,244), USA ($69,375).& Iceland ($68,844)

While the per capita income of India remains at 1.7% of Luxembourg and 3.16% of USA, the GDP is at the fifth position. Huge disparity can be found between the GDP and GDP pci of India. While one denotes the economic strength of the country, the other denotes that of the people. After the prime analysis of this any economist may find the reason for this as the large population sharing the big GDP. Since the truth is different, one cannot ratify this  economic theory.

Economic strength of any country is determined by the natural resources and the manpower available in the country. Fortunately India is abundantly rich in both of these. It is the government of our country to exploit the optimum resources by the entire manpower. However our successive governments have

 not focused on empowering the people with knowledge and capability and then to tap the resources by deploying the  entire manpower.

If our government can concentrate on these too ingredients, India can make an economic quantum leap and take the GDP pci to a much higher level. Let us not be ashamed by declaring ourselves as a poor country. Let's boldly say tomorrow that we are amongst the layer of the countries on GDP of India and GDP pci of the people.

K V George