‘True measurement of development’: Ashneer Grover on tracking per capita income growth

Ashneer Grover, in a recent social media post, has said that the country’s GDP should not be measured in terms of its size but on the basis of per capita income. He called it the true measure of development. 

“Absolutely correct. Tracking right parameters is the key. Similarly - we also need to look at our GDP (economy) on a per capita basis and not blindly celebrate the tag of 3rd/4th largest economy. Climbing the charts on per capita income is true measure of development,” said Grover, quoting a tweet by TV Mohandas Pai. 

Grover’s followers agreed with his assessment. Many said that while the size of the economy makes Indians proud, it is the per capita income that the nation should strive for. 

A recent research report stated that India’s per capita income, which currently stands at $2,450 is likely to grow by close to 70 per cent to $40,000 by fiscal 2030. Standard Chartered Bank said in a weekend report that the growth in per capita income will help India become a middle-income economy with a $6 trillion GDP, more than half of which would come from household consumption. 

External trade is expected to be the biggest driver of growth, which might double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023. The report assumes a 10 per cent nominal GDP growth from now on. 

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India has come a long way in terms of its per capita income at the beginning of the 2000s. In 2001, India’s per capita income/GDP was $460, which increased to $1,413 in fiscal 2011 and then to $2,150 in fiscal 2021. 

Pai’s post, on which Grover responded, was a comment on the world's carbon emissions. According to Global Carbon Atlas, China contributes 30.9 per cent of all the world’s carbon emissions, while the US contributes 13.5 per cent. India contributes 7.3 per cent, it showed. 

The chart showed China as the biggest polluter, but Pai pointed out that China has one of the world’s largest populations, so in reality the per-person emission is much less than that of the US.

Also read: Ashneer Grover gets featured on 'Rs 2,000 notes' as part of his welcome to Bengaluru; see pics

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