New Delhi | Jagran News Desk: In response to Congress MP Rahul Gandhi's jibe at the government over IMF projections stating the country may slip below Bangladesh on per capita GDP this year, sources in the government have hit back claiming that India's GDP is 11 times more than the neighbouring nations in terms of purchasing power parity, news agency PTI reported.

Earlier today, Rahul Gandhi took a dig at the government over IMF growth projections showing Bangladesh closing in on India in terms of per capita GDP this year and described it as a "solid achievement" of six years of BJP's "hate-filled cultural nationalism".

India's per capita GDP (PPP) in 2020 was estimated by the IMF at $6,284. By comparison, per capita GDP (PPP) of Bangladesh for 2020, they said, was estimated at $5,139. Sources also pointed out that in the same IMF report India's GDP was estimated to grow at 8.8 per cent in 2021, compared to Bangladesh's 4.4 per cent.

On Tuesday a report by the IMF said India's GDP was set to drop below that of Bangladesh. The report also said the Indian economy could contract by a massive 10.3 per cent this year - a forecast that represents a huge downward revision from its previous prediction in June.

The International Monetary Fund (IMF) has estimated India's GDP to grow at 8.8 per cent in 2021, twice that of Bangladesh at 4.4 per cent, they added. According to IMF, India is set to drop below Bangladesh in terms of per capita Gross Domestic Product (GDP) as the economy is projected to contract by a massive 10.3 per cent this year.

IMF's forecast for India -- a huge downward revision from its previous prediction in June -- is also the biggest contraction projected among major emerging markets amid the COVID-19 pandemic.

(with PTI inputs)

Posted By: Rakesh Kumar Jha