VkdIndian
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You have a point but you have yourself answered to your observation. Total GDP is always a notional number. A number that just highlights a certain aspect of an economy.Isn't it unfair comparing India's GDP to that of normal, real countries? A realistic comparison would be that between India and one of the continents mentioned above, or China. India is only ahead of Oceania (tiny population) w.r.t. nominal GDP. That's nothing to brag about.
Anyone with even basic knowledge of these things would never term it as an ultimate benchmark of wellness. When GDP increases, per capita would also increase and total numbers are feel good. That’s it.
It is “per capita” that matters. There have been so many threads on PDF bringing out per capita GDP of various countries in the region. Actually there is a corollary to this. Per capita and total GDP of few Indian States is more than a lot of countries in the world as well as the region. But what is the value of this fact? Zilch.
India has higher GDP than Britain. Does it make India more wealthy or a better state? We all know the answer.
Then why this sudden urge to question total GDP figures and compare it with total GDP of continents?
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