Why Pakistan is wealthier than India

[LASER1]

https://indianexpress.com/article/o...ongress-indian-economy-nda-modi-govt-5316408/

Indian economist agrees.

Tell me when IMF and WB disagree with the figures from India. All others can rest somewhere the sun doesn't shine.

So which one do you want to use, they both prove your Nigerian comment wrong.

Where did my comment about Nigeria is wrong? Nigerian economy is not twice that of India. You're talking about Wealth Per capita to compare India and Pakistan. I'm saying these reports are Bullshit.

 

[KhalaiMakhlooq]

Tell me when IMF and WB disagree with the figures from India. All others can rest somewhere the sun doesn't shine.

That's not how it works. Central Banks report the figure. There is no checking from IMF or WB. That's not their function.

Member of monetary policy committee questions India's GDP growth numbers
https://www.business-standard.com/a...ndia-s-gdp-growth-numbers-118090500478_1.html

Where did my comment about Nigeria is wrong? Nigerian economy is not twice that of India. You're talking about Wealth Per capita to compare India and Pakistan. I'm saying these reports are Bullshit.

It's how you measure the wealth of a country. The underlying premise. Please read the previous posts on how country wealth calculation works.

 

[LASER1]

That's not how it works. Central Banks report the figure. There is no checking from IMF or WB. That's not their function.

Is the central Bank publishing fake reports? These speculations of some unknown economic expert. Also, IMF takes these values into account because they are credible. The growth forecast is based on the same. Do you have any credible report the suggest India is faking numbers? Don't bring me unknown economic expert who claims things.

It's how you measure the wealth of a country. The underlying premise. Please read the previous posts on how country wealth calculation works.

I have read it. These doesn't represent anything of value. Let's say, we have a massive oil disovery somewhere offcoast. It's worth $1 trillion then our wealth per capita skyrockets. Doesn't mean we get more wealthy, that's clearly why Nigeria is twice as wealthy as India or Pakistan. All the indicators from Gini coeff to inflation shows a different story, but hey they are twice wealthy. Same goes for India and Pakistan. These reports can be some feel good reports but that's about it.

If you still don't understand it, I'm not wasting more time explaining what is wealth per capita. It's better you read somewhere how it is calculated.

 

[KhalaiMakhlooq]

Is the central Bank publishing fake reports? These speculations of some unknown economic expert. Also, IMF takes these values into account because they are credible. The growth forecast is based on the same. Do you have any credible report the suggest India is faking numbers? Don't bring me unknown economic expert who claims things.


I have read it. These doesn't represent anything of value. Let's say, we have a massive oil disovery somewhere offcoast. It's worth $1 trillion then our wealth per capita skyrockets. Doesn't mean we get more wealthy, that's clearly why Nigeria is twice as wealthy as India or Pakistan. All the indicators from Gini coeff to inflation shows a different story, but hey they are twice wealthy. Same goes for India and Pakistan. These reports can be some feel good reports but that's about it.

If you still don't understand it, I'm not wasting more time explaining what is wealth per capita. It's better you read somewhere how it is calculated.

Country wealth accounts include the following asset categories:

• Produced capital and urban land—machinery, buildings, equipment, and residential and nonresidential urban land, measured at market prices.For brevity, the term produced capital is used in the book to include produced capital and urban land.
• Natural capital—energy (oil, gas, hard and soft coal) and minerals (10 categories), agricultural land (cropland and pastureland), forests (timber and some nontimber forest products), and terrestrial protected areas (for brevity, referred to simply as protected areas in the book). Marine-protected areas are not currently included. Natural capital is measured as the discounted sum of the value of the rents generated over the lifetime of the asset.
• Human capital—human capital disaggregated by gender and employment status (employed, self-employed). Human capital is measured as the discounted value of earnings over a person’s lifetime.
• Net foreign assets—the sum of a country’s external assets and liabilities, for example, foreign direct investment and reserve assets

Yes, so oil reserves would be considered an a sub-asset in a category on the balance sheet of a country. But it wouldn't sky rocket wealth per capita, as this is only one element that is weighted amongst the others.

A country's GDP is a measure of consumer spending plus business investment and government spending as well as its net exports, which is exports minus imports. Only.

Is the central Bank publishing fake reports? These speculations of some unknown economic expert. Also, IMF takes these values into account because they are credible. The growth forecast is based on the same. Do you have any credible report the suggest India is faking numbers? Don't bring me unknown economic expert who claims things.

A guy called PROF RAVINDRA DHOLAKIA OF RBI THE MONETARY POLICY COMMITTEE. Regardless, it was picked up by international economists world-wide because its their full-time jobs to study every minute financial detail of India. That's why it made international news.

Is the central Bank publishing fake reports? These speculations of some unknown economic expert. Also, IMF takes these values into account because they are credible. The growth forecast is based on the same. Do you have any credible report the suggest India is faking numbers? Don't bring me unknown economic expert who claims things.


I have read it. These doesn't represent anything of value. Let's say, we have a massive oil disovery somewhere offcoast. It's worth $1 trillion then our wealth per capita skyrockets. Doesn't mean we get more wealthy, that's clearly why Nigeria is twice as wealthy as India or Pakistan. All the indicators from Gini coeff to inflation shows a different story, but hey they are twice wealthy. Same goes for India and Pakistan. These reports can be some feel good reports but that's about it.

If you still don't understand it, I'm not wasting more time explaining what is wealth per capita. It's better you read somewhere how it is calculated.

For example, have you ever had your estate valued? Wealth is not only based on how much cash you have. It includes a wide-range of assets.

 

[LASER1]

Yes, so oil reserves would be considered an a sub-asset in a category on the balance sheet of a country. But it wouldn't sky rocket wealth per capita, as this is only one element that is weighted amongst the others.

Then tell me what's the asset of Nigeria. Who has the largest poor population in the world but somehow came up to be among moderate per capita wealth? 33% lives below the poverty line in Nigeria and it's increasing.

This is something like the Happiness index. Cherry picking index, that's why you don't see this when comparing economies. Someone thought of an idea, I think it's Credit Suisse for a new index.

A guy called PROF RAVINDRA DHOLAKIA OF RBI THE MONETARY POLICY COMMITTEE. Regardless, it was picked up by international economists world-wide because its their full-time jobs to study every minute financial detail of India. That's why it made international news.

You realize these committees are for deciding monetary policies and advising RBI. The reports submitted by RBI have no influence on this individuals report. But rather surfaced on news articles. So, who is more credible, the committee member or RBI?

For example, have you ever had your estate valued? Wealth is not only based on how much cash you have. It includes a wide-range of assets.

Have you ever considered the regular economic indicators? Inflation, Gini coeff, Credit rating, GDP nominal and PPP, Government debt, HDI, Ease of doing business. Nope, just wealth per capita. Nice joke.

 

[KhalaiMakhlooq]

GDP is basically a countries income-statement, it does not consider changes in value of an underlying asset on the balance sheet.

Then tell me what's the asset of Nigeria. Who has the largest poor population in the world but somehow came up to be among moderate per capita wealth? 33% lives below the poverty line in Nigeria and it's increasing.

This is something like the Happiness index. Cherry picking index, that's why you don't see this when comparing economies. Someone thought of an idea, I think it's Credit Suisse for a new index.



You realize these committees are for deciding monetary policies and advising RBI. The reports submitted by RBI have no influence on this individuals report. But rather surfaced on news articles. So, who is more credible, the committee member or RBI?


Have you ever considered the regular economic indicators? Inflation, Gini coeff, Credit rating, GDP nominal and PPP, Government debt, HDI, Ease of doing business. Nope, just wealth per capita. Nice joke.

I guess if your emotionally, culturally, ideologically or politically motivated in your position you would always see the world through that lens. Leave it as that, we agree to disagree.

 

[LASER1]

GDP is basically a countries income-statement, it does not consider changes in value of an underlying asset on the balance sheet.


I guess if your emotionally, culturally, ideologically or politically motivated in your position you would always see the world through that lens. Leave it as that, we agree to disagree.

No, I see things on simple terms, don't have to cherry pick articles to feel good about anything.

Also, GDP is not an income statement of the country. Please don't make such blunders, it's the value of goods and services made in a country. It is not required to calculate the asset we hold.

That's why when reading the report you'll see Nigeria (which you still failed to explain why) in a comfortable position but the economic indicators points south.

 

[KhalaiMakhlooq]

No, I see things on simple terms, don't have to cherry pick articles to feel good about anything.

Also, GDP is not an income statement of the country. Please don't make such blunders, it's the value of goods and services made in a country. It is not required to calculate the asset we hold.

That's why when reading the report you'll see Nigeria (which you still failed to explain why) in a comfortable position but the economic indicators points south.

You are deluded.

 

[Cobra Arbok]

GDP is basically a countries income-statement, it does not consider changes in value of an underlying asset on the balance sheet.


I guess if your emotionally, culturally, ideologically or politically motivated in your position you would always see the world through that lens. Leave it as that, we agree to disagree.

Man you are talking about gdp hen you should be talkng gdp per CAPITA, which is used by the WB to measure wealth. HDI is used by te UN to measire development. As I have repeatedly said, those are the most accurate and commonly used measures of "wealth"

And whats that bs about internationa economists not accepting india's gdp?

You can spin it however you want, but you cannot change the fact that according to the most commonly used measures, The average Indian is wealthier than the average pakistani.

As for your claim about nigeria, well that exposes the problem with that index. Nigeria has a higher RAW number of people living below the international poverty line than india. Keep in mind that india has more people, yet still fewer people on poverty than nigeria. And you want to say Nigerians are wealthier than Indians?

BTW, jus lt under 25 % of inians live under the international poverty line eheras approximately a third of pakistanis do.

 

[KhalaiMakhlooq]

Man you are talking about gdp hen you should be talkng gdp per CAPITA, which is used by the WB to measure wealth. HDI is used by te UN to measire development. As I have repeatedly said, those are the most accurate and commonly used measures of "wealth"

And whats that bs about internationa economists not accepting india's gdp?

You can spin t hoeever you want, but you cannot change the facvlt that according to the most commonly used measures, The average Indian is wealthier than the average pakistani.

As for your claim about nigeria, well that exposes the problem with that index. Nigeria has a hogher RAW number of people living below the international poverty line than india. Kero in mind that india has more people, yet still fewer people on poverty than nigeria. And you want to say Nigerians are wealthier than Indians?

BTW, jus lt under 25 % of inians live under the international poverty line eheras approximately a third of pakistanis do.

Your useless argument borderlines narcissism.

 

[Cobra Arbok]

Your useless argument borderlines narcissism.

so because i question the valie of uour metric in favor of metrices more commonly used by the wb and un I am a narccissist? It is clear you have no facts to counter my arguements.

You posted a methodology. I questioned it, and showed more commonpy ised ones that are commonly used by eorld bank imf, and un to measure wealth including one literally created by the UN. yer you kept giving me the same circular answers about "Capital" rather than addressing any of my points. As I said before, Most measures suggest ndians are wealthier than pakistanis, and you have not presented anybfacts to oppose mybarguements based on UN and WB and IMF data. The fact you are claiming the country with the higjest pop beloe poverty line as wealthier than both India andnPakistan is proof of the flaws of your measure.

 

[KhalaiMakhlooq]

so necaise i wuestion the valie of uour metric in faor of metrices more comonly used by the wb and un I am a narccissist? It is clear you have no facts toncouner my argiements.

You podted a methodology. I questioned it, and showed more commonpy ised ones that are commonly used by eorld bank imf, and un to measure wealth including one literally created by the UN. yer you kept givingbme the same circular answers about "Capital" rather than addressing any of my points. As I said before, Mostnmeasures suggest ndians are wealthier than pakistanis, and you have not presented anybfacts to oppose mybarguements based on UN and WB and IMF data. The fact you are claiming the country with the higjest pop beloe poverty line as wealthier than both India andnPakistan is proof of the flaws of your measure.

Speak English. Not crap.

 

[nahtanbob]

Country wealth accounts include the following asset categories:

• Produced capital and urban land—machinery, buildings, equipment, and residential and nonresidential urban land, measured at market prices.For brevity, the term produced capital is used in the book to include produced capital and urban land.
• Natural capital—energy (oil, gas, hard and soft coal) and minerals (10 categories), agricultural land (cropland and pastureland), forests (timber and some nontimber forest products), and terrestrial protected areas (for brevity, referred to simply as protected areas in the book). Marine-protected areas are not currently included. Natural capital is measured as the discounted sum of the value of the rents generated over the lifetime of the asset.
• Human capital—human capital disaggregated by gender and employment status (employed, self-employed). Human capital is measured as the discounted value of earnings over a person’s lifetime.
• Net foreign assets—the sum of a country’s external assets and liabilities, for example, foreign direct investment and reserve assets

Yes, so oil reserves would be considered an a sub-asset in a category on the balance sheet of a country. But it wouldn't sky rocket wealth per capita, as this is only one element that is weighted amongst the others.

A country's GDP is a measure of consumer spending plus business investment and government spending as well as its net exports, which is exports minus imports. Only.



A guy called PROF RAVINDRA DHOLAKIA OF RBI THE MONETARY POLICY COMMITTEE. Regardless, it was picked up by international economists world-wide because its their full-time jobs to study every minute financial detail of India. That's why it made international news.



For example, have you ever had your estate valued? Wealth is not only based on how much cash you have. It includes a wide-range of assets.

In USA and most countries net worth worksheets include real estate, stocks, bonds, cash, personal assets, cash value of insurance policies etc.

 

[Cobra Arbok]

Speak English. Not crap.

Sorry for my spelling. I was typing this on my phone right after i woke up. So are you going to address my arguements with facts like i have used to support mine or are you going to continue name calling?

The facr remains that gdp per capita and hdi are the most accepted measures of wealth, and the op has not prvided evidence against that fact.

one more thng, I forgot to mention gdp per capita ppp, which os an even better meaure of personal wealth than gdp per capita nominal because it takes into account cost of living. Once again, india far outranks pakistan. More proof the average indian i wealthier than the average pakistani and has a higher standard of living.

 

[KhalaiMakhlooq]

In USA and most countries net worth worksheets include real estate, stocks, bonds, cash, personal assets, cash value of insurance policies etc.

Yes, that's rights.

What are the Types of GDP?
GPD can be measured in several different ways. The most common methods include:

• Nominal GDP – the total value of all goods and services produced at current market prices. This includes all the changes in market prices during the current year due to inflation or deflation.
• Real GDP – the sum of all goods and services produced at constant prices. The prices used in determining the Gross Domestic Product are based on a certain base year or the previous year. This provides a more accurate account of economic growth, as it is already an inflation-adjusted measurement, meaning the effects of inflation are taken out.
• Actual GDP – real-time measurement of all outputs at any interval or any given time. It demonstrates the existing state of business of the economy.
• Potential GDP – ideal economic condition with 100% employment across all sectors, steady currency, and stable product prices.

What is included in GDP?

Gross Domestic Product (GDP) is the monetary value, in local currency, of all final economic goods and services produced in a country during a specific period of time. It is the broadest financial measurement of a nation’s total economic activity. The total goods and services bought by consumers encompasses all private expenditures, government spending, investments, and exports but excludes imports that take place within a designated country. Below are three different approaches to the GDP formula.


#1 Expenditure Approach
The most commonly used GDP formula, which is based on the money spent by various groups that participate in the economy.

GDP = C + G + I + NX

C = consumption or all private consumer spending within a country’s economy, including, durable goods (items with a lifespan greater than three years), non-durable goods (food & clothing), and services.

G = total government expenditures, including, salaries of government employees, road construction/repair, public schools, and military machines.

I = sum of a country’s investments spent on capital equipment, inventories, and housing.

NX = net exports or a country’s total exports less total imports.



#2 Income Approach
This GDP formula takes the total income generated by the goods and services produced.

GDP = Total National Income + Sales Taxes + Depreciation + Net Foreign Factor Income

Total National Income – the sum of all wages, rent, interest, and profits.

Sales Taxes – consumer tax imposed by the government on the sales of goods and services.

Depreciation – cost allocated to a tangible asset over its useful life.

Net Foreign Factor Income – the difference between the total income that a country’s citizens and companies generate in foreign countries, versus the total income foreign citizens and companies generate in that country.



#3 Production or Value-Added Approach
The sum of the value added to a product during the production process. To determine the value added between businesses, the price at which the product is sold by the seller is deducted from the price it was bought for from the supplier.

GDP PER CAPITA

A country’s Gross Domestic Product (GDP) per person is obtained by dividing its GDP for a particular period by its average population for the year.

There are other adjustments of GDP you can do, but ALL GDP FIGURES ARE BASED ON THE FORMULA FOR CALCULATING GDP

AS YOU CAN SEE, THE WORLD BANK HAS A BETTER METHOD FOR CALCULATING COUNTRY WEALTH, AS DESCRIBED IN THE ORIGINAL ARTICLE.