INDIAN ECONOMY

• The World Bank in its World Development Report (2010) classifieds the various countries on the basis of Gross National Income (GNI) per capita. [GNI is the same as GNP (Gross National Product) used earlier by World Bank]

• India with its population of 1,117 million in 2009 and with its per capita income of $1180 is among the poorest of the economics of the world. It had a share 17.4% in world population, but accounts for only 2.3% of world GNI on exchange rate basis.

• On PPP (Purchasing Power Parity) basis, India with a per capita GNI of $3,768 continues to be in group of lower middle income economics, but with an acceleration in its growth rate of GDP to an average of 8.0% during 2000 and 2009, India is supposed to enter the group of upper middle income countries, very soon.

• China has already entered the upper middle income group.