Is India Richer or Poor Country?
India is a large and populous country, and it has a wide range of economic indicators. The country has a GDP per capita of $2,200, which places it in the lower middle-income category. In 2021, India was ranked 145th in a list of 193 countries for which data was available. This places India above Kenya and below the Solomon Islands.
When it comes to the per capita income adjusted for purchasing power parity, India is ranked slightly higher at 132nd. This means that the average Indian has a higher purchasing power than the average person in many other countries. This is largely due to the fact that India has a large population, and the cost of living is relatively low.
However, India is still a relatively poor country. Despite the fact that the country has made great strides in recent years, it still has a long way to go. The country has a high rate of poverty, and the wealth gap between the rich and the poor is still quite wide.
In addition, India has a large informal economy, which means that a large portion of the population is not included in the official GDP figures. This means that the actual economic situation in the country is likely worse than the official figures suggest.
The Indian government has made great efforts to reduce poverty and improve the economic situation in the country. It has implemented a number of programs to help the poor, including providing access to education, health care, and other social services. It has also implemented a number of economic reforms to improve the business environment and attract foreign investment.
Despite these efforts, India is still a relatively poor country. The country has a long way to go before it can be considered a developed nation. However, with the right policies and investments, India can continue to make progress and become a richer and more prosperous nation. 07-Oct-2022.
