Roadmap to be developed by 2047: 1.28 lakhs per annum our annual income, to be 7 times in 25 years; Modi's dream will be fulfilled only then

Posted on 17th Aug 2022 by rohit kumar

'Comrades! I think for the coming 25 years we have to focus our power on Panchapran. When I talk about Panchapran, the first vow is the resolve of a developed India. Now there should be nothing less than that.

 

On 15th August 2022, on the 75th anniversary of independence, PM Modi gave the pledge of a developed India. He talked about making India developed in the next 25 years, that is, till the 100th Independence Day of India.

 

1. Gross National Income ie GNI (Gross National Income): As its name suggests, just as we earn our own income, the country also earns its own income.

 

For example, if your salary is 50 thousand rupees. At the same time, you earn 20 thousand rupees separately by giving home tuition. In this way your total earning is 50+20 i.e. 70 thousand rupees per month or 8.4 lakh rupees annually. Similarly, the annual earnings of a business or company are added.

 

In this way, when we add the income of all the people and business of a country, then we call it Gross National Income (GNI) in Hindi and Gross National Income (GNI) in English.

 

The special thing is that it includes the amount received by the country by doing job or business abroad and also the help received from abroad.

 

2. Gross Domestic Product (GDP): If the value of all the goods and services produced in a country during a year is added to its currency or dollar, then it will be the GDP of that country.

 

Let us understand with a hypothetical example. If only two things happened in a country. One, the steel is made and the other, there is only hair-dressing. Now if that country produced steel in a year, its value is $100. At the same time, if a service like hair-dressing of $ 50 is given in the same country, then the GDP of that country will be 100 + 50 i.e. $ 150.

 

Not much difference between GDP and GNI. If we add three things to GDP, then it turns into GNI.

 

1- Salary received by people living in the country from abroad, 2- Earnings received from abroad by its owner or investor for any property present in the country and 3- Earnings received by deducting subsidy from the total tax received by the government

 

3. Per Capita Income ie PCI (Per Capita Income): It is the average income of the people living in a country. To calculate this, we divide the GDP of that country by its total population.

 

4. Human Development Index ie HDI (Human Development Index): United Nations agency United Development Program (UNDP) prepares Human Development Index every year. UNDP aims to help countries end poverty, achieve economic growth and human development.

 

UDI is an index prepared on the basis of health, education and life expectancy of a country. Here life expectancy is meant by that figure which tells how many years the people of the country live on average.

 

Now let us understand what are the 3 definitions of developed countries-

 

1. United Nations (UN): The United Nations has not fixed any definition of developing and developed countries, yes, the statistics division of the UN divides countries into 3 categories on the basis of some parameters for convenience. First- developed countries or economies, second- economies undergoing change and third- developing economies.

 

4 big bases for categorizing countries-

 

1. Gross National Income, 2. GDP, 3. Per Capita Income and 4. Human Development Index.

 

2. World Bank: World Bank divides countries into 4 categories on the basis of income group instead of developing and developed-

 

High Income Economy: Those countries whose per capita GNI is $ 13,205, that is, about Rs 10.50 lakh or more.

 

Upper Middle Income Economy: Countries whose GNI is between $ 4,086 to $ 13,205, i.e. between Rs 3.24 lakh to Rs 10.50 lakh.

 

Lower middle income economy: Countries whose GNI is between $ 1,036 to $ 4,085, that is, between Rs 82.38 thousand to Rs 3.24 lakh.

 

Low-income economy: Countries whose GNI is $1035, that is, Rs 82,328 or less.

 

Cambridge Dictionary: Developed countries are those, where there is a lot of industrial activity and people's income is generally high.

 

According to the current definition of developed countries, the per capita GNI should be more than 10.50 lakhs. That is, in the current scenario, India will have to increase its per capita GNI by 6 times to become developed.

 

India's GNI in 2021 was around Rs 1.73 lakh.

 

America's GNI in 2021 was around Rs 55.98 lakh.

 

UK's GNI in 2021 was around Rs 36.07 lakh.

 

China's GNI in 2021 was around Rs 9.45 lakh.

 

According to the current definition of developed countries, the per capita income should be between Rs 9.5 lakh to Rs 12 lakh per annum. In the current scenario, if India has to stand in the line of developed countries, then the per capita income will have to increase by about 7-8 times.

 

In 2021, China's per capita income was $ 12,556, i.e. about 9.74 lakh rupees annually.

 

America's per capita income in 2021 was $ 69,287, i.e. about Rs 55.24 lakh annually.

 

Britain's per capita income in 2021 was $ 47,334, i.e. about Rs 37.62 lakh annually.

 

However, high per capita income alone is not the measure of a country's development. For example, Qatar's per capita income in 2021 was around $62 thousand, that is, about 50 lakh rupees annually. Despite this, the UN considered it a developing country. This was due to inequality in income, lack of infrastructure and limited education facilities for the poor in Qatar.

 

India's GDP in 2021 was $3.17 trillion and was the sixth largest economy in the world. By 2030, India is projected to become the world's third-largest economy after the US-China with a GDP of $8.4 trillion.

 

The US was the world's largest economy in 2021 with a GDP of $96 trillion.

 

In 2021, China was the world's second-largest economy with a GDP of $22 trillion.

 

Japan was ranked third and fourth with $17 trillion and Germany with $4.9 trillion, respectively.

 

India is very low on Human Development Index

 

The Human Development Index of India, ranked 131st in 2020, was 0.64 and it has been improving for the past several years. Most developed countries have an HDI score of more than 0.80.

 

Norway topped in 2020 with a score of 0.95.

 

The US ranked 17th in 2020 and had an HDI of 0.92.

 

China ranked 85th in 2020 and had an HDI of 0.76.

 

What is the difference between developing and developed countries?

 

Developing countries, that is, where the industry is developing. The standard of living is very average and modern technology is lacking. Because of this, the income of the people living in these countries is also less. According to the United Nations, 126 countries of the world were included in the list of developing countries by 2020.

 

A country is considered developed when the income of the people of that country is high, there is a developed industry, there is strong infrastructure, and the people there lead a high quality of life. In 2020, the UN recognized 36 countries as developed countries.

 

By now you must have understood a basic difference between developing and developed countries. Now let us understand this difference from the definition of top institutions of the world.

 

Developed does not mean economy, life is prosperous

 

According to the United Nations agency United Development Program (UNDP), human development means not only making the economy prosperous but also related to the prosperity of the human life living in it. It is an approach that focuses on people, on the opportunities and options they have.

 

Development is not GDP, people have to be happy: In 1972, Emperor Jigme Singye Wangchuck of Bhutan implemented the Gross Happiness Index in place of GDP in his country. The government decided that the prosperity of the country should not be determined by the GDP, but by the Happiness Index. Then he said that it is the responsibility of all the ministries to solve the problems of the people and work to raise the standard of living.

 

Also Read: Independence Day 2022: Preparations for a tough attack on familyism and corruption