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20 sats \ 5 replies \ @Undisciplined 28 Dec 2024 \ on: India third-best performing major market in 2024, domestic mcap soars 18.4% econ
All the other top growers are tiny populations, too. India must be accounting for a huge portion of global economic growth.
It's very likely.
But the problem of having so much population also accounting for millions of jobless people. Poverty is still a issue. Electricity isn't 24 hours till now.
The best out look of Indian economy may be represented by GDP per capita which still remains quite low in comparison to top 10 economies.
As per latest provisional estimate published on 31st May, 2023, India’s per capita Net National Income (NNI) at constant (2011-12) prices increased by 35.12 percent from Rs. 72,805 in 2014-15 to Rs. 98,374 (approximately $1200) in 2022-23. https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1945144
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Yeah, there's a long way to go still.
It would be interesting to know what the average expected lifetime earnings are for Indians. So many move away and find great success in other countries.
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Those who move away from here generally won't return. They are all fiat maxis. I don't count them.
Yeah, there's a long way to go still.
Long but not as long.
India's per capita income might seem very very low but it's never real. I can't be real. Everyone, other than in job, hides a big part of his income. Agriculture is free of any taxes, so farmers earn much more than its projected. Why I know this because I also know that a man selling tea from shop to shop in India earns at least 30000 inr ($350) per month but if you ask him he'll say he's poor. Other people, like shopkeepers they earn a good amout but hide.
Another thing is that labour is much much cheaper here than EU and USA and it makes goods quite cheaper in comparison.
So, if you ask me the real per capita income in India should be around $3-4 k, if all things considered.
And if it's taken in relation to goods and services cost, you can double it for most places.
You can compare the cost of living here
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That's very encouraging.
The reason I mention the expats is that a lot of focus goes into education, but then that pays off in other countries. It means the Indian economy is succeeding at one of its primary aims, without that being reflected in the economic numbers.
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The numbers can't reveal the prosperity and poverty both. The numbers are just what the Ministry of Statistics and Programme Implementation visualise.
I believe my eyes. There's a huge change from the India before 2010 and after it.
BTW, India hosted commonwealth games in Delhi in 2010. There was a big corruption by then UPA government which led to the rise of Modi and since then, India's been changing rapidly.
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