Bangladesh Per Capita Income has Surpassed India in 2021

In the fiscal year 2020-21, Bangladesh has surpassed the neighboring country India in terms of per capita income. According to the recent report of Bangladesh Bureau of Statistics (BBS), Bangladesh's per capita income has risen to US$ 2,227. In Bangladeshi currency it is 1 lac 88 thousand 873 taka per year.

 

The Planning Minister of Bangladesh Mr. MA Mannan placed the statistics at a virtual cabinet meeting held with Prime Minister Sheikh Hasina in the chair on 17 May 2021, “Our per capita income stands at $2,227 in the fiscal year 2020-21, but the previous fiscal year’s per capita income was $2,064. So, the growth rate is 9 per cent.

 

On the other hand, a report in the Indian media ‘Indian Express’ states that India's per capita income is US$ 1,947. In Bangladeshi currency the amount is 1 lac 65 thousand 170 Taka, which is 280 dollars less than Bangladesh per capita income. In other words, a citizen of Bangladesh earns 23 thousand 753 Takas more than a citizen of India. The Covid-19 epidemic and the lockdown it dealt with is one of the reasons for the India's economic contraction.

 

In the last financial year (2019-20), the per capita income of Bangladesh was 2 thousand 64 US Dollars. In its previous fiscal year (2018-19), the average per capita income was US$ 1,909. In 2007, Bangladesh's per capita income was half of India's per capita income.

 

The World Economic Outlook released by the International Monetary Fund (IMF) in October last year predicted that Bangladesh would surpass India in terms of per capita gross domestic product (GDP) by the year 2020. It is said that the per capita GDP of Bangladesh will be US$ 1,888. At the same time, India's per capita GDP will be US$ 1,877.

On the virtual meeting the minister also said that the country's GDP has also increased to BDT 30,87,300 Crore from BDT 27,96,358 crore, according to the primary data. "It's a good achievement," said the bureaucrat.

 

The report further said that India's economy will shrink due to the corona. Compared to that, there will be positive growth in Bangladesh. That is why the opportunity to move forward will come in front of Bangladesh.

 

Thanks,

 

 

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