According to the Maddison Project Database 2023, India's GDP per capita fell
GS3Economy · S&T · Environment · Security· Growth, inflation & macro indicators· Prelims + Mains·
Why in news
The Maddison Project Database 2023 highlights India's long-term GDP per capita trajectory, showcasing the impact of colonial history and post-1990s reforms.
Background
India's GDP per capita was 83% of the global average in 1820, dropped to 32% by 1940, and is projected to reach 46% by 2025. India is forecasted to be the world's fastest-growing major economy in 2026 with a 6.4% growth rate.
Facts for Prelims
- FactIndia's GDP per capita was 32% of the global average in 1940.
- FactIndia's projected GDP growth rate for 2026 is 6.4%.
- FactMaddison Project Database is a primary source for historical GDP data.
For Mains
Q. Analyze the factors that contributed to the stagnation of India's GDP per capita during the colonial period and the role of 1990s reforms in its recovery.
Dimensions to cover in your answer
- colonial economic drain
- structural reforms of 1991
- demographic dividend
- global competitiveness
Keywords: GDP per capita · economic trajectory · structural reforms · growth indicators · historical analysis
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This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.