santosh10
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India GDP per capita $1,500.
Per Capita Income Comparison between India and UK
i gotto teach you this also now......
first, population of India at 1.2billion and exchange rate/nominal GDP of India as $2.1trillion by the financial year 2014-15, which is growing by at least 6% a year for the coming 20 years. write down somewhere and then talk from here? this way, per capita income of India in exchange rate terms comes at around $2,000 by end 2015, estimated. OK?
from here, first my post as below, which states, how $2,000 per capita income of India is equivalent to $15,000 in US. and only rationale question i would welcome, no shiits. why i used a factor of 7.5 to calculate "on ground" Purchasing Power Difference between India and US.....
now, what you understand by Per Capita Income? i tell you about it, it compromise with 80% service, 18% industries (mainly energy sector of UK), and 2% of Agriculture for UK's economy.
i mean to say, in UK, you spend your 80% earning in shops/restaurants and other services. while its around 55% only in India. means, out of $2,000 per capita income of India in exchange rate terms, with its equivalent value of $15,000 as detailed below, around 45% of it, around $6,700 on PPP has share in agriculture/industries.
and with UK's per capita income of around $36,000 ONLY, around 20% share you have for the agriculture and and industries, means around $7,200 on PPP has share of agriculture and industries. EQUAL TO THAT OF INDIA, 'almost'.
and yes, this way you spend around $28,000 per head of your income in services, while that of India comes around $9,000 THREE TIMES DIFFERENCE ONLY. and this is why you may say you still maintain superiority over the common Indians, with over 500% Total Debt on your head, as much as Japan, the highest indebted people of world//en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita#List_of_countries_and_dependencies
from here, 3 times difference of Per Capita income used in Services has little value, as whole. frequently having food in restaurants/ going to shops etc, doesn't make much difference in quality of life, considering your per head expenditure on agriculture and industries is 'almost' similar to that of Indians as present, whose total debt hardly comes around closed to 100% to GDP, with GDP growing with a very fast pace, at least by 6% a year for the next 20years+ :tup:
while you going no where in future
//defenceforumindia.com/forum/economy-infrastructure/64395-brics-e7-economies-ibsa-4.html
and thats why i first mentioned exchange rates difference between US and India, which make a huge difference. in purchasing power terms, i would say 1.0 US$ = Indian Rupes 10.0, no more than that. so, you would consider per capita income on "PPP term of India "at around" $15,000, considering how prices really affect a common civilian
and the main issue here is the total Debt of US, well over $60.0trillion+, while that of India would be hardly around $2.5trillion, as below:
=>//cdn.static-economist.com/sites/default/files/imagecache/original-size/t1-overall_0.png
"on Ground" Purchasing Power Comparison between India and US
please check my post again, and read "Per Capita Income at Ground", on ground :thumb:
On Ground: on ground, i pay $3.2 for a Medium size Flat White Coffee in Sydney while walking on the road, while its hardly Indian Rupees 25 (40 cents), for the same size and same standard of milk/coffee/machine of my near by. 8 time difference
(while i generally by coffee from the side at hardly IRN 15-20)
the "cheapest" food, 'production line food' of KFC/Mc Donalds/Hungry Jack etc cost around $10, no less than that. while a simple plate of food in Delhi cost around Indian Rupees 100 ($1.5), in a pretty good Middle Class restaurant. 7 times difference
(while a vegetable thali/plate in the restaurant of my colony of Delhi is priced at INR 70, its good.)
Im a resident of Perth, and you simply can't get a 2 room flat for less than $400 a week, means around $1,700 a month (INR 100,000). while in the city like Lucknow, the capital of largest state of India, UP, in my colony, around INR 20,000 per month is enough) 5 time difference
(while people do get flat for even INR 10,000 a month in Lucknow, on the long term contract. quite seen...)
even the cheapest food in Sydney, a Chinese cheap and best food, is available for $12, take away food, and then you pay $2.5 for water also, the minimum. while 1.0 liter mineral water in Delhi is priced at INR20 (30 cents), the best brands..... around 9 times
and yes, prices of rice, chicken, edible oil, cooking gas, etc is hardly twice in Australia, as compare to India, but again you do pay very high for other services in US......
and thats why i said, $15,000 per capita income in US, means for around $2,000 in India, around. regardless the PPP calculation, what does we buy from our earning "on ground", matters the most. :tup:
=>
Travelling Comparison: along with food prices in the Middle Class restaurants, price of 2 rooms flats/rent, price of mineral waters etc, i just realized one major comparison, the Travelling Expanses in city. here we find, its around INR 20 (30 cents) by the metro From Nehru Enclave to New Delhi railway station. and I would consider Distance of Nehru Enclave to New Delhi similar to Paramatta to Sydney. while from Straigthfield to Sydney, a closest suburb, i used to pay $3.2 for one way. 10 times difference
(while from O-Connor to Perth city, the price comes at around $4.4 for one way.)
hence On Ground Purchasing Power has now included traveling expanses too. again i discussed once, price of Petrol in Sydney and Delhi has hardly 20% difference because of its international price. but i again thought, once you send your vehicle to work shop for any type of repair, it simply cross $600 to $1,000+ in Australia. similar how i said before, even if prices of rice/cooking oil/chicken is hardly around twice in Australia as compare to India, but you first need to go to shops for the items, and service is again expansive in Australia. while we find prices of vegetables in Australia well closed to $10 per kg+, vegetables there are much more expansive than Chicken/Lamb.
i would use the factor of 7.5 to translate the Exchange Rate Per Capita Income of India to see its value in US/UK/Australia. and right now it would stands at around $2,000 :ranger:
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