The new Asian tiger Bangladesh is set to overtake its giant neighbour India in terms of per capita GDP in 2020 despite slowing growth, and contrariwise a steep contraction in the Indian economy, according to the International Monetary Fund (IMF)-World Economic Outlook (WEO) database.
Once the news about the per capita GDP projection of the two nations was circulated on media, it immediately provoked a political debate in India on the social media. Indian opposition leaders blamed ruling Bharatiya Janata Party and its leaders for the economic fallout.
World Economic Outlook (WEO) report, published on 13 October, has projected Bangladesh is going to outstrip India as its per capita GDP is likely by expand 4 per cent in 2020 to $1,888 while India's per capita GDP is expected to be shrunk by 10.5 per cent to $1,877.
According to media reports, just five years ago, India's per capita GDP was around 40 per cent higher than that of Bangladesh. However, in the half decade, Bangladesh's per capita GDP had maintained at a compound annual growth rate (CAGR) of 9.1 per cent while India recorded 3.2 per cent during the period.
Indian major opposition party Congress’ former president Rahul Gandhi tweeted, “Solid achievement of 6 years of BJP’s hate-filled cultural nationalism: Bangladesh set to overtake India.”
His party Indian National Congress tweeted, “Well done PM Modi, achhe din have finally come - for Bangladesh.”
In another tweet, Abhishek Banerjee, Member of Parliament (Lok Sabha) and National president of All India Trinamool Youth Congress, said, “Indian Economy in tatters, as even Bangladesh is set to overtake us in Per Capita GDP as per @IMFNews's World Economic Outlook. Listen carefully, it's not their resurgence, but our colossal downfall, in pursuit of @narendramodi. Ji's 5 Trillion dream!”
Srivatsa, former Karnataka Congress social media head and National Campaign In-charge of Youth Congress, twitted, “The real motive behind NRC/CAA is now evident. It's to add population to Bangladesh so that they fall behind us in per capita GDP. Masterstroke by Tadipar.”
Gaurav Gogoi, deputy leader of Lok Sabha INC and WEF Young Global Leader,also tweeted, “Till 5 years ago, India’s per capita GDP was nearly 40 per cent higher than Bangladesh. Today, Bangladesh is set to overtake India. Yet BJP will continue dividing India on the basis of religion, caste, gender and political beliefs.”
Rohan Gupta, chairman of Social Media Department, Indian National Congress, also took a dig at Narendra Modi on twitter as saying “It is not possible that Bangladesh can overtake India in GDP ! It is the result of International Conspiracy against Nationalist Modi Govt ! Godi Media is investigating the matter and the results will be out soon!”
Supriya Shrinate, National Spokesperson & Member Coordination Group @INCIndia Maharajganj, UP. Former Executive Editor Times Group in tweet said, “Mr @AmitShah you called Bangladeshis termites. But the termites worked hard, focused on economy and have overtaken India in per capita GDP. Bangladesh:$1,888 India: $1,877. In 2015 India's was 40% more.”
Indian media were also quite buzzed up about the issue.The IMF projection was widely covered by the Indian media houses that created stormed on social media.
NDTV raised a question in tweet as it said,” “India To Drop Below Bangladesh's Per Capita GDP: Is A Rebound in 2021 Likely?”