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Per capita income growth from 1850 to 1900 is estimated to range from 0.75% to 1.25% annually. This figure is buoyed by a decrease in India's rate of population increase stemming from disease and famines. [12] From 1850 to 1947, India's GDP per-capita had grown by 16%, from $533 to $618 in 1990 international dollars.
Karl Marx, writing in 1857, suggested the Nominal (Silver) per capita income of East India Company, in 1854, was approximately 1:12 that of the UK, as was the Nominal per capita tax burden 1:12 of the UK, 1:10 of France, and 1:5 of Prussia. [162]
This is an alphabetical list of countries by past and projected Gross Domestic Product per capita, based on the Purchasing Power Parity (PPP) methodology, not on official exchange rates. Values are given in International Dollars .
^ At year 1, year 1000, year 1500 and till the start of British colonisation in India in 17th century, India's GDP always varied between ~22 - 33% world's total GDP and was the largest economy in the world from year 1 until year 1500, [4] which dropped to 2% by Independence of India in 1947. [15]
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 125th by GDP (PPP). [63]
A new report finds that the present-day golden era of Indian billionaires has produced historic income inequality in India. ... period from the 1930s until India’s independence in 1947, the top ...
Prior to India's Independence, from the period of 1900 to 1947, per capita income in India had either declined or stagnated.Post-Independence, Jawaharal Nehru demonstrated his willingness to compromise socialism for the perceived benefit of the country to provide financial incentives for the expansion of private enterprise.
In 1947, South Korean per capita income was less than 2 times bigger than India's. By 1960, South Korean per capita income was 4 times larger than India's; By 1990, South Korean per capita income was 20 times larger. [23] South Korea received much higher U.S aid and foreign investment when compared to India. [24]