Bangladesh overtakes India in per capita income: Report

After India's per capita income slipped due to the ongoing COVID-19, Bangladesh had surpassed India in terms of per capita income. According to a report by The New Indian Express, Bangalesh reported its per capita income at $2,227 in the financial year 2020-21— over 9 per cent jump from $2,064 in 2019-20.

Meanwhile, the latest official data show that India’s per capita income reached $1,947.417. This is mainly due to the slowdown in economy activity in the country which was due to COVID-19-led lockdown.

According to the report, planning minister of Bangladesh MA Mannan placed the statistics at a virtual cabinet meeting chaired by Prime Minister Sheikh Hasina. “Our per capita income stands at $2,227 in the fiscal year 2020-21, but the previous fiscal year’s per capita income was $2,064. So, the growth rate is 9 per cent,” the Bangladesh cabinet secretary said.

Even the World Economic Outlook data which was released by the International Monetary Fund (IMF) in October last year, it had projected Bangladesh to surpass India in terms of per capita GDP (at current prices) in dollar terms in 2020.

IMF's 2020 project was India's per capita GDP is expected to decline by 10.5 per cent to USD 1,877 in 2020 while Bangladesh's per capita GDP is expected to rise by 4 per cent to USD 1,888. In 2015, India’s per capita GDP was nearly 40 per cent higher than that of Bangladesh.