Due to difference in currency values, Indian economy is at 3rd position. Whereas it is much more in size ahead of US.
GDP is simple summation of price of total produce last year. If Indians produce 1 kg tomato its price is 10 Rs, if it is produced in US it is priced at 100 Rs.
Similar is true for income in services sector. If Indian buddy in call center makes 350K Rs in a year, his American counterpart makes 600K Rs.
Re: Indian economy is much more in size
by on Aug 13, 2013 02:18 PM
You are not right my friend. A devalued currency is directly impacted by imports V/S exports. American exports exceed Indian exports and hence they have a stronger currency. When you say Economy then it has to factor in the trade deficit, not just domestic consumption. So the USD 4.8 Trn GDP is correct.
The poorest of poor country like Inida can never dream even come within 100 front running countries as one of the biggest economics. REDIFF HAS CERTAINLY GONE MAD.
Re: REDIFF HAS DEFINITELY GONE MAD
by panduranga vittal on Aug 13, 2013 06:28 PM
mad fellow it is correct. our by total income we are at 3rd position among 214 couuntries. But by per capita inceom we are one of the poorest countries in the world, ranking at about 120 and so.
HOW CAN INDIA BE AT # 3? INDIA MUST BE AT LEAST AT #30. HUNDREDS OF SCAM IN KONGRESS RAJ, TRILLIONS OF DOLLARS OF BLAK MONEY OF KONGRESS LEADERS GONE IN BANKS ABROAD AND EVERYDAY FALLING RUPEE AT 62. KEEPING ALL THIS IN MIND , INDIA SHOULD BE AT LEAST AT 30, AND SOON 300 IF CORRUPT KONGRESS RETURNS TO POWER AGAIN.
Re: Mentioned Ranking are Wrong
by pradeep agarwal on Aug 13, 2013 01:36 PM
Even if true ,look at the gap with China.We got independence almost at same time 7 see how much China has progressed while a single family rule for over 50 yrs has ruined us.We would have been worse off but for five years of Rao & 6 yrs of Vajpayee who accounted for maximum reforms in our economy.The thankless Congress refuses to even display the picture of Rao in their office to please the most corrupt family
Re: Re: Mentioned Ranking are Wrong
by sivanantham on Aug 13, 2013 01:57 PM
it is time to ignore family and regional parties because it will give a chance to one family can loot continuously for so many generations (example: Nehru, Karuna, Mulayam, Lallu, Farooq etc.,). First awareness about drawbacks of family politics among our people is very important. Then we have to include some of American's good political methods/policies; i.e., one person can come to power for maximum 2 times and abolish family politics. Prime minister should be elected directly by people; ie., it should not be based number of MP seats. This method can reduce corruption considerably. I hope we will do better in future.
Re: Re: Mentioned Ranking are Wrong
by Joy Kutty on Aug 13, 2013 02:37 PM
China has dictatorship. india has democracy. too much of domocracy is bad then it becomes free for all
