PCI/PPP - ANNUAL BUDGET OF CENTRAL AND STATE GOVERNMENTS



(The first Indian Budget was presented by Mr James Wilson on February 18, 1869. He was the jin the Finance Member of India Council that advised the Viceroy)

The ultimate aim of democracy or government is  comfort of the people. The indicator of that comfort or economic development of the people is the annual budget. Budget is used as the criteria to measure the economic growth of a country, is evaluated and presented  annually to the people. According to the assessment of the year 2020,  the first three positions among the countries in the size of the budget is held by  USA, China and India. 

As per the web source analysis the best 10 countries in PPP are, Germany, USA, Brazil, China, Japan, Australia, Canada, India, Indonesia and Russia. 

The per capita income  is the average earning per country men every year. PCI is calculated by dividing the annual GDP of a country by it's population. When PPP indicates the purchasing power of the people, the PCI shows the money available with the people. Though these two are assessed under different dimension, provides almost similar result. GDP per capita PPP in India is expected to reach 6,988 USD by the end of 2023 according to Trading Economics global macro models and analysts expectations.

Selected countries by GDP (nominal) per capita 2022 showing respective position.
1. Monaco 2. Luxembourg 3. Liechtenstein  9. USA 12. Australia  22. UAE  24. UK
30. Japan  64. Russia 65. China  97. South Africa
140. India

The Ministry of Finance of both Central and State Governments may ensure to indicate directly in the opening page of the budget these two prime figures.
1. Purchasing Power Parity of the previous year and the current year.

2. GDP (nominal) per capita of the previous year and the current year.

These two information will help the people to assess their economic growth and may add self confidence in them.

K V George 

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