India’s GDP per capita may decline further by 10.5% according to IMF
India has made all the possible efforts to increase its GDP per capita over the last few decades and also to achieve the vision of a $5 trillion economy. Whereas, Bangladesh focused on growth in exports, savings and investment rates which led to a rise in its per capita GDP and now it is all set to overtake India that had been leading all these years.
According to the International Monetary Fund (IMF), Bangladesh’s GDP per capita is expected to increase by 4% to 1888$ in 2020. while India’s GDP per capita is expected to decline by 10.5% to 1877$ in 2020. IMF WEO has forecasted that India’s economic contraction in 2020-21 will be worse than the 1990-91 economic crisis.
According to the IMF’s prediction India’s per capita GDP growth will be 8.2% to 2030$ whereas Bangladesh’s GDP per capita is expected to grow by 5.4% to 1990$.