- published: 31 Jul 2015
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India's per capita income (nominal) is $ 1219, ranked 142nd in the world, while its per capita purchasing power parity (PPP) of US $3,608 is ranked 129th. It is estimated that India's Per Capita Income will register an average growth rate of 13% during 2011-20 so as to reach $ 4,200 by 2020. In the year 2020 India's real GDP is projected to be at $5 trillion, and per capita Nominal GDP at $ 3,650. India's per capita purchasing power parity (PPP) will be at $ 12,800 in the year 2020. States of India have large disparities. One of the critical problems facing India's economy is the sharp and growing regional variations among India's different states and territories in terms of per capita income, poverty, availability of infrastructure and socio-economic development. Although income inequality in India is relatively small (Gini coefficient: 32.5 in year 1999- 2000) it has been increasing of late. Wealth distribution in India is fairly uneven, with the top 10% of income groups earning 33% of the income. Despite significant economic progress, a quarter of the nation's population earns less than the government-specified poverty threshold of $0.40/day. 27.5% of the population was living below the poverty line in 2004–2005.
India (i/ˈɪndiə/), officially the Republic of India (Bhārat Gaṇarājya), is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the south-west, and the Bay of Bengal on the south-east, it shares land borders with Pakistan to the west;China, Nepal, and Bhutan to the north-east; and Burma and Bangladesh to the east. In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; in addition, India's Andaman and Nicobar Islands share a maritime border with Thailand and Indonesia.
Home to the ancient Indus Valley Civilisation and a region of historic trade routes and vast empires, the Indian subcontinent was identified with its commercial and cultural wealth for much of its long history. Four of the world's major religions—Hinduism, Buddhism, Jainism, and Sikhism—originated here, whereas Zoroastrianism, Christianity, and Islam arrived in the 1st millennium CE and also helped shape the region's diverse culture. Gradually annexed by and brought under the administration of the British East India Company from the early 18th century and administered directly by the United Kingdom from the mid-19th century, India became an independent nation in 1947 after a struggle for independence that was marked by non-violent resistance led by Mahatma Gandhi.