Reports
prepared by the World Bank (WB) have revealed that the per capita income of
Indians is often more than the per capita income of the average Pakistani.
Using
the globally accepted Purchasing Power Parity or PPP method to analyze and
compare the per-capita income of various nations, reports prepared by the World
Bank found that every Indian earns around USD 5,630, while a Pakistani earns
around USD 5,090.
A
closer look at the statistical evidence provided in these WB reports reveals
that one U.S. dollar is equal Pakistani Rupees 10.4.56, while one U.S. dollar
is equivalent to Indian Rs.67, and therefore, an Indian earns 54,000 Pakistani
rupees more than his Pakistani counterpart or Indian Rs 36,100 more than what a
Pakistani individual earns in a year.
According
to the World Bank,
this per capita disparity between India and Pakistan was in the reverse about
two-and-a-half decades ago. Then, Pakistan enjoyed a much higher standard of
living. India has been successfully and steadily moving up in terms of income
earning since 1990. The actual change in favour of India occurred in 2009 when
its per capita income overtook and surpassed Pakistan's for the first time.
Pakistan's
policy of promoting and feeding the terrorist infrastructure within and outside
Pakistan has eaten away at its economic dividends, say global economic experts.
India,
on the other hand, has had better law and order management, promoted peace,
enjoyed rising levels of private and foreign investment, an increasing presence
in the Information technology sector, high growth, and a prospering middle
class.
In
India, the government has been taking steps to bridge the urban-rural gap. This
includes the setting up of the Council for Advancement of People's Action and
Rural Technology (CAPART) by the Ministry of Rural Development.
CAPART
helps in providing assistance to various organizations which help in
developmental activities.
In the
last two years, the government has also introduced cost-effective schemes to
reduce the rural-urban divide not only in terms of income, but on other social
measures.
At the
state level, economic performance is improving with the help of a liberal
regulatory environment.
Market-oriented
reforms have been introduced from time-to-time, which have led to differences
in economic indicators being minimised, and according to experts, continuing to
be in reform mode, will complement measures to improve infrastructure,
education and basic services.
The
potential for growth in sectors other than agriculture can also give a boost to
employment and thus lower poverty.
In
February this year, data prepared by the Central Statistics Office (CSO)
revealed that per capita income of an Indian during 2015-16 was likely to be
Rs. 77,431 as compared to Rs 72,889 for the year 2014-15, a growth of 7.3
percent per month.
The
CSO, under the Ministry of Statistics and Programme Implementation, in its
advance estimate for 2015-16, has projected the Indian economy to grow at 7.6
percent the highest since 2010-11 when the GDP expanded by 8.9 percent.
The
growth rate of Pakistan in 2014 was estimated at 4.14 percent, while India's
growth rate was estimated at 7.17 percent in 2014.
During
the period 1980-2014, the average GDP growth of Pakistan was 5.02 percent,
while India's was 6.23 percent in the same period.
Representative
Image
Source:
ANI
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