Read carefully what I wrote. It's per day per person.
$6 per day per person is Rs 240 in PPP or Rs 438 in exchange rates. Neither of the two amount is significant enough to put you into a middle class with purchasing power.Worst of all, in a typical Indian family of 4/5,usually there is just one earning family member.
It is sufficiently high as certain countries tend to prevent their citizens from purchasing vehicles. Singaporeans with living standards higher than many post industrial states have only 15% population with cars.
You partly correct with regards to government discouraging citizens from buying IC engine cars.The taxes may be high but the prices aren't. They are infact amongst the lowest in major economies. There are plethora of cars available between 2 to 5 lakhs.Yet still we see a small numbers of new vehicle registrations. This low car sale volume is largely due the fact that the population is just too poor to buy a car,secondly amongst those who can afford it,most do not having the confidence in their own economic prospects which is a function of the overall economic health of the country and therefore are reluctant to shell out from their savings or taking a loan.
The relationship between the performance of the automotive sector and steel,rubber,glass and financial sectors is well established and therefore many economist look at the performance of the auto sector to judge the overall performance of the economy. Therefore you might have seen in the news channels, the economist were sounding an alarm when the car sales slumped.
With regards to car ownership in Singapore, you should look at number of vehicles per 1000.For Singapore it's 170 and for India it is only 28.There is a correlation here, almost all well of countries have a high vehicles per capita and vice versa for poor ones.
Further, percentage of households with cars in India is rising. Certain countries may not be having a culture to keep cars too.
Indeed the number of households with cars is increasing, albeit very slowly...at this pace we might reach 100 cars per 1000 people only by 2050.
Almost all rich countries have a figure of more than 100 cars per 1000 people. Even the famed Netherlands which is known for it's cycling has 487 cars per 1000 people.
The trajectory of both the states I see is upwards throughout every field and way way better than world average. China is indeed an exceptional case for entire world, once nothing against Indonesia and now about to surpass Russia and Malaysia.
Here, India is gradually transiting in per capita income, poverty ratio, wealth, life expectancy, infant mortality, HDI, IHDI and so forth in other indicators to become an upper middle income economy while China transiting into a developed country.
There is no denial in the fact that things are moving upward in India, but much below the required pace.
We need a consistent 8% + growth for atleast a decade. This 5 % which has become a norm is simply not enough.
Nobody expected India to implement the same policies as seen in China, but what stopped the government to put it's best effort.For years they slept only to wake up when they realized the water level has risen over head.The kind of desperate effort the government is putting now should have been done years ago.
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