Saturday, June 29, 2013

Indian GDP Decreased in USD Terms in 2012-13

Sharp fall in Indian currency against the US dollar and slower economic growth have caused India's GDP for Fiscal  Year 2012-13 to shrink in US $ terms to $1.84 trillion from $1.87 trillion a year earlier. The Indian rupee has plummeted from 47.80 in 2012 to 54.30 to a US dollar in 2013, according to Business Standard. Since this report was published in Business Standard newspaper, Indian rupee has declined further against the US dollar to Rs. 59.52 today. At this exchange rate, India's GDP is down to $1.68 trillion, about $200 billion less than it was in  Fiscal 2011-12.

Pakistan GDP Per Capita 1990-2012 Source: World Bank



Indian GDP Growth Rates 2004-2013
India's economy grew by 5.0% in 2012-13,  its slowest annual rate in a decade, down from 6.2% last fiscal year. In the fourth quarter ending in March, gross domestic product grew by 4.8% year-over-year, slightly higher than the previous quarter when it expanded by 4.5%, according to Indian government data.
In the January-March quarter, the manufacturing sector increased output by just 2.6%, while production in the country's mines shrank by 3.1%.

Global ratings agency Standard and Poor's warned in May that India faces at least "a one-in-three" chance of losing its prized sovereign grade rating amid new threats to economic growth and reforms. India's BBB-minus investment rating is already the lowest among BRICS and cutting it to "junk status" would raise the country's hefty borrowing costs. The Organisation for Economic Cooperation and Development (OECD) this week lowered its projection of India's GDP growth this year to 5.3%, from 5.9% earlier.



Meanwhile,  Pakistan's economy continues to struggle with its annual GDP rising just 3.6% to $252 billion ($242 billion at Rs. 100 to a USD exchange rate)  in fiscal 2012-13, according to Economic Survey of Pakistan 2012-13 estimates based on 9 months data. The country is facing militancy and energy shortages impacting its economy.


Other world economies have also slowed down. US is slowly recovering but Europe is still struggling. BRIC growth rates are also slowing. China is slowing with its workforce aging and shrinking. In India, the slow pace of reform is hurting its growth, and Brazil and Russia are struggling with slowing demand for their export commodities.

Africa has replaced Asia as the continent with most of the world's fastest growing economies, according to The Economist magazine. The top 10 fastest growing economies in the world are: Macau, Mongolia, Libya, Gambia, Angola, Bhutan, China, Timor-Leste, Iraq and Mozambique.

China and the US , the two largest economies, still continue to be the bright spots and the main locomotives of the world economy, offering hope of global economic recovery.

Related Links:

Haq's Musings

India's Hyphenation: India-Pakistan or India-China?

India's Share of World's Poor Jumps as World Poverty Declines

Forget Chindia--Chimerica Will Rescue the World

World Bank on Poverty Across India

Superpoor India's Superpower Delusions

Are India and Pakistan Failed States? 

India Home to World's Largest Number of Poor, Hungry and Illiterate

India Leads the World in Open Defecation

India Tops in Illiteracy and Defense Spending

Indians Poorer than sub-Saharan Africans


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Thursday, June 27, 2013

Pakistan's Rasoolpur Village is 100% Literate and Crime-Free

Pakistan's sensational media coverage projects only the dark side of the country with a constant stream of news stories of militancy, illiteracy and deprivation. But BBC Urdu took a road less traveled and found a small village of Rasoolpur in the Punjab which demolishes some of the worst stereotypes of the country.


Here's how BBC describes it:
دور دراز علاقوں سے ایک تو خبر ہی مشکل سے آتی ہے۔آتی بھی ہے تو اکثر بری خبر ہی ہوتي ہے۔ شايد سی لیے رسول پور جیسے گاؤں، 99 فیصد شرح خواندگی اور زیرو جرائم کا ریکارڈ رکھنے کے باوجود سنسنسی زدہ میڈیا کے لیے خبر کا درجہ نہیں رکھتے۔۔
Translation: News from remote areas of Pakistan does not easily reach the urban press but when it does, any good news like 100% literacy and zero crime in Rasoolpur village is discarded by the sensational media as not newsworthy.

Rasoolpur is a village with a population of just 2000. Most of its residents are ethnic Baloch whose ancestors migrated from Pakistan's Balochistan province to Southern Punjab. It is located in Rajanpur district in the Seraiki speaking region. Its literacy rate is near 100%.  The United Nations defines literacy as the ability to sign one's name. But Rasoolpuris hold themselves to a much higher standard; they have all their children finish high school.

There are no children out of school. It is crime-free. It is clean. There are two high schools, one for the girls and other for the boys.

Here's a BBC Urdu video about Rasoolpur village:


travelog rasoolpur. from sharjil baloch on Vimeo.

Related Links:

Haq's Musings

Karachi Slum Girl Goes to Harvard Business School

Educational Attainment in Pakistan

Upwardly Mobile Pakistan

Biotech and Genomics in Pakistan 

India & Pakistan Comparison Update 2011 

India and Pakistan Contrasted in 2010
  
Eating Grass-The Making of Pakistani Bomb
  
Educational Attainment Dataset By Robert Barro and Jong-Wha Lee 

Quality of Higher Education in India and Pakistan

Developing Pakistan's Intellectual Capital

Intellectual Wealth of Nations

Pakistan's Story After 64 Years of Independence

Pakistan Ahead of India on Key Human Development Indices

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Tuesday, June 25, 2013

Two Pakistani Technology Start-ups Head For Silicon Valley

Lahore-based Groopic and Islamabad-based Tunacode have been accepted to be part of this summer’s Blackbox Connect program in Silicon Valley.

Founded by Pakistanis, both companies are start-ups with innovative products whose founding teams are looking to live, learn and network for two weeks at an Atherton mansion this summer from July 15 to 26, 2013.  These young entrepreneurs are a reflection of Pakistan's growing human capital.

This year's summer program of Blackbox Connect is supported by Google.

Groopic is an application that helps put the photographer back into photos with his or her buddies. Eyedeus, the company behind Groopic, emerged from the first batch of companies at Plan9, the Punjab government’s incubator which is named after an operating system project at the Bell Labs in the 1980s.

Tunacode specializes in optimizing complex software to graphic processing units (GPUs).


The two Pakistani companies are among eight non-US start-ups selected to participate this summer by Google for Entrepreneurs partner programs around the world. The remaining six companies are Avocarrot (UK), EgzoTech (Poland), Inpris (Israel), Instabug (Egypt), Melusyn (France) and MyDoorHandle (South Africa).  Here's how Blackbox Connect describes the program:

"Founders will come to Silicon Valley and live at the Blackbox Mansion for the two weeks, where they will have the opportunity to live and collaborate with like-minded entrepreneurs from all around the world and take part in an intense agenda of meetings and workshops with entrepreneurs, investors, experts and executives. Accepted startups must have launched a technology based MPV and gathered feedback from early adopter/customers. Ideally - but not required - a startup should have raised some investment capital, have a team between 3 to 20 people and have a product or service that can be launched globally".

Here's the curriculum for this year's program:

1. Interfacing with an Investor

Top Ten Mistakes Made in Business Plans
Short Building Elevator Pitching Preparation and Workshop
Perfecting Your Investor Pitch
How to Hold an Investor Meeting
Recruiting and Leveraging an Advisory Board

2. Basics of Venture Capital Investment Options

Founder Vesting Equity
Stock Options for Startup Founders
Introduction to Equity Term Sheets

3. Born-Global Startups

Building the Core Team, Recruiting and Scaling
UX-based Branding
Raising Money in Silicon Valley
First Hand Founders Success Stories
Leveraging Social Marketing
Setting up official US presence for international startup
Legal & Financial Issues of Born-Global Startups

4. Quality Networking Events

Dinners at Blackbox Mansion with local SV community members
Attend other select happening events in Silicon Valley
Demo/Pitch event to investors followed by dinner event

I believe the exposure to Silicon Valley start-up culture via the Blackbox Connect's immersion program can help founders of participating companies to emulate the success of some of the big-name world-renowned companies that have spawned the technology revolution sweeping the world.

Related Links:

Haq's Musings

Two Pakistani-American Start-ups Among Top 5 Venture Deals 

Pakistan's Growing Human Capital

Pakistani-American's Game-Changing Vision 

Minorities Are Majority in Silicon Valley 

US Promoting Venture Capital & Private Equity in Pakistan

Pakistani-American Population Growth Second Fastest Among Asian-Americans 

Edible Arrangements: Pakistani-American's Success Story

Pakistani-American Elected Mayor 

Upwardly Mobile Pakistan

US Firms Adding Jobs Overseas 

Pakistan's Demographic Dividend 

Pakistanis Study Abroad

Pakistan's Youth Bulge

Pakistani Diaspora World's 7th Largest

Pakistani-American NFL Team Owner 

Pakistani-American Entrepreneurs Catch the Wave

Pakistani Graduation Rate Higher Than India's

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Kerry Annoys Indians; Hyphenates India and Pakistan

US Secretary of State John Kerry's current visit to India has aroused Indian media's anger with the Times of India  protesting that the secretary has "sought to draw parity between India and Pakistan".

In an article titled “Kerry’s soft line on Pakistan a sore subject,” Indian newspaper The Hindu complained: “Departing from his predecessor Hillary Clinton’s line of commiserating with the victims of the 2008 Mumbai attacks, he opted to sympathize with the victims of the Uttarakhand flash floods instead.”

Global Poverty Rates 


For the last several years, Indian elites have been quite obsessed about de-hyphenating their country from Pakistan and fusing it with China by inventing such words as "Chindia". However, it's also clear from the Indian media reactions to Kerry's words that India's rivalry with Pakistan inflames far more passion in India than does India's self-proclaimed competition with China.

Robert Kaplan of Stratfor questions the Indian policy elite's obsession with hyphenation with China in a recent piece as follows:

Indian elites can be obsessed with China, even as Chinese elites think much less about India. This is normal. In an unequal rivalry, it is the lesser power that always demonstrates the greater degree of obsession. For instance, Greeks have always been more worried about Turks than Turks have been about Greeks. China's inherent strength in relation to India is more than just a matter of its greater economic capacity, or its more efficient governmental authority.

Kaplan goes on to say the following about India-Pakistan hyphenation:

The best way to gauge the relatively restrained atmosphere of the India-China rivalry is to compare it to the rivalry between India and Pakistan. India and Pakistan abut one another. India's highly populated Ganges River Valley is within 480 kilometers (300 miles) of Pakistan's highly populated Indus River Valley. There is an intimacy to India-Pakistan tensions that simply does not apply to those between India and China. That intimacy is inflamed by a religious element: Pakistan is the modern incarnation of all of the Muslim invasions that have assaulted Hindu northern India throughout history. And then there is the tangled story of the partition of the Asian subcontinent itself to consider -- India and Pakistan were both born in blood together.


It's a rarely acknowledged  fact in India that most Indians are far more obsessed with Pakistan than any other country. But the ruling dynasty's Rahul Gandhi, the man widely expected to be India's future prime minister, did confirm it, according to a news report by America's NPR Radio. "I actually feel we give too much time in our minds to Pakistan," said Rahul Gandhi at a leadership meeting of  the Indian National Congress in 2009.

The rise of the new media and  the emergence of the "Internet Hindus", a term coined by Indian journalist Sagarika Ghose, has removed all doubts about many Indians' Pakistan obsession. She says the “Internet Hindus are like swarms of bees". "They come swarming after you"  pouncing on any mention of Pakistan or Muslims.

Here's a video demolishing the Chindia myth:


Related Links:

Haq's Musings

India's Hostility Toward Pakistan

India-Pakistan Military Balance

BRIC, Chindia and the Indian "Miracle"

India's Twin Deficits and Soaring Imports From China

India Near Bottom on PISA and TIMSS Tests

Poverty Across India

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Tuesday, June 18, 2013

Pakistan to Beg and Borrow to Finance 2013-14 Budget

Pakistan's proposed federal budget 2013-14 includes $36 billion in spending with deficit financing of $16 billion. Of this $16 billion, over $5 billion will be borrowed by the federal government to pay the power sector to settle the so-called circular debt.



Heavy Tax Burden on the Poor:

Direct taxes make up only about 3.5% of Pakistan's federal revenue. The rest comes from indirect taxation, mainly consumption tax, making Pakistan's tax policy among the most regressive in the world. The low-income people who have to spend almost all of their incomes will be paying tax on their entire incomes while the high-income groups who spend a small percentage of their income will pay little in taxes.

While the general sales tax (GST), a consumption tax, has been raised from 16% to 17%, vast swaths of the economy have been left out of the tax net. A major weakness in public finances is the lack of fiscal effort by the provinces. With some of the largest segments of economic activity such as agriculture, real estate, and services in the provincial domain, the provincial tax receipts total an abysmal 0.7 percent of GDP.



To make up the difference between revenue and spending, the government is forced to beg or borrow. It fosters foreign aid dependence, limits national sovereignty and burdens Pakistan's future generations with debt that they will have to repay.

Pakistan needs to revamp its entire taxation system to make it more equitable and progressive with the rich paying a larger share of the taxes and to raise the tax-gdp ratio from the current 9% to at least 15%.

Resolving Energy Crisis:

Paying off $5 billion to the power sector will do little to resolve load-shedding. The previous government paid $14.8 billion to the power sector and the problem of load-shedding only got worse.

What is needed is to clearly identify and fix the root cause which is the flawed finances of the sector. The cost of electricity production needs to come down substantially and the revenue from bill collection needs to increase significantly to bring finances into balance. The fuel mix needs to change to lower the costs. And there needs to be serious law enforcement done to reduce power theft and collect payments  for the use of electricity. In addition, the IPP contracts need to be renegotiated to link payments to fuel efficiency and power generation capacity utilization.

Pakistan needs a long-term and comprehensive energy policy to assure availability of cheap and abundant energy to fuel economic growth and prosperity in the country.

Since the middle of the 18th century, the Industrial Revolution has transformed the world. Energy has become the life-blood of modern economies. Energy-hungry machines are now doing more and more of the work at much higher levels of productivity than humans and animals who did it in pre-industrial era. Every modern, industrial society in history has gone through a 20-year period where there was extremely large investment in the power sector, and availability of ample electricity made the transition from a privilege of an urban elite to something every family would have. If Pakistan wishes to join the industrialized world, it will have to do the same by having a comprehensive energy policy and large investments in the power sector. Failure to do so would condemn Pakistanis to a life of poverty and backwardness.

 Please watch the following video discussion on the subject of Pakistan's budget 2013-14 and resolution of power crisis:



First budget of new Nawaz Sharif government, no relief for poor; Energy Crisis; Reliance on oil from WBT TV on Vimeo.

Related Links:

Haq's Musings

Pakistan's Tax Evasion Fosters Aid Dependence

Pakistan's Vast Shale Oil and Gas Reserves

Pak IPPs Make Record Profits Amid Worst Ever Load Shedding 

Global Power Shift Since Industrial Revolution

Massive Growth in Electrical Connections in Pakistan

Finance Minister Ishaq Dar's Budget 2013-14 Speech

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Sunday, June 16, 2013

Pakistan Ranks Among Top 10 Countries With Vast Shale Oil Reserves

Pakistan has more shale oil than Canada, according to the US Energy Information Administration (EIA) report released on June 13, 2013.

The US EIA report estimates Pakistan's total shale oil reserves at 227 billion barrels of which 9.1 billion barrels are technically recoverable with today's technology.  In addition, the latest report says Pakistan has 586 trillion cubic feet of shale gas of which 105 trillion cubic feet (up from 51 trillion cubic feet reported in 2011) is technically recoverable with current technology.

The top ten countries by shale oil reserves include  Russia (75 billion barrels), United States (58 billion barrels), China (32 billion barrels), Argentina (27 billion barrels), Libya (26 billion barrels), Venezuela (13 billion barrels), Mexico (13 billion barrels), Pakistan (9.1 billion barrels), Canada (8.8 billion barrels) and Indonesia (7.9 billion barrels).



Pakistan's current  annual consumption of oil is only 150 million barrels. Even if it more than triples in the next few years, the 9.1 billion barrels currently technically recoverable would be enough for over 18 years. Similarly, even if Pakistan current gas demand of 1.6 trillion cubic feet triples in the next few years, it can be met with 105 trillion cubic feet of  technically recoverable shale gas for more than 20 years. And with newer technologies on the horizon, the level of technically recoverable shale oil and gas resources could increase substantially in the future.

Source: US EIA Report 2013

As can be seen in the shale resource map, most of Pakistan's shale oil and gas resources are located in the lower Indus basin region, particularly in Ranikot and Sembar shale formations. 

Source: US EIA Report 2013

Since the middle of the 18th century, the Industrial Revolution has transformed the world. Energy has become the life-blood of modern economies. Energy-hungry machines are now doing more and more of the work at much higher levels of productivity than humans and animals who did it in pre-industrial era. Every modern, industrial society in history has gone through a 20-year period  where there was extremely large investment in the power sector, and availability of ample electricity made the transition from a privilege of an urban elite to something every family would have. If Pakistan wishes to join the industrialized world, it will have to do the same by having a comprehensive energy policy and large investments in the power sector. Failure to do so would condemn Pakistanis to a life of poverty and backwardness. 

 
The availability of large domestic shale oil and gas expands the opportunity to reduce Pakistan's dependence on imports to overcome the current energy crisis and to fuel the industrial economy.  But it'll only be possible with high priority given to investments in developing the energy sector of the country. 

Related Links:

Haq's Musings

US EIA International Data on Per Capita Energy Consumption

Pakistani Guar in Demand For American Shale Fracking

Affordable Fuel for Pakistan's Electricity 

Pakistan Needs Shale Gas Revolution

US Census Bureau's International Stats  

Pakistan's Vast Shale Gas Reserves

US AID Overview of Pakistan's Power Sector 

US Can Help Pakistan Overcome Energy Crisis

Abundant and Cheap Coal Electricity

US Dept of Energy Report on Shale Gas

Pakistan's Twin Energy Crises

Pakistan's Electricity Crisis

Pakistan's Gas Pipeline and Distribution Network

Pakistan's Energy Statistics

US Department of Energy Data

Electrification Rates By Country 

CO2 Emissions, Birth, Death Rates By Country

China Signs Power Plant Deals in Pakistan

Pakistan Pursues Hydroelectric Projects

Pakistan Energy Industry Overview

Energy from Thorium

Comparing US and Pakistani Tax Evasion

Pakistan's Oil and Gas Report 2010

Circular Electricity Debt Problem

International CNG Vehicles Association

Rare Earths at Reko Diq?

Lessons From IPP Experience in Pakistan

Correlation Between Human Development and Energy Consumption

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Monday, June 10, 2013

Access to Energy Broadens in Pakistan as Supply Remains Constrained

Pakistan has made remarkable progress in electrification of its towns and villages both in absolute terms and as percentage of population over the past two decades, according to a recently-released report titled "Global Tracking Framework" issued jointly by the World Bank and the International Energy Agency. This report at least partly explains the dramatic increase in demand-supply gap and consequent increase in load-shedding in Pakistan.


The report says that 60 percent of Pakistanis had access to electricity in 1990, 80 percent in 2000 and 91 percent in 2010. By 2010, 88 percent people of rural and 98 percent of the country's urban population had access to electricity. Comparable figures in India are as follows: 51% in 1990, 62% 2000, and 75% in 2010. 93% of urban and 67% of rural Indians had access to electricity in 2010.

The report identifies top 20 countries with the largest number of people to have gained access to electricity over the past 20 years. Of these, 12 are in Asia. They brought electrical service to 1.3 billion people  (of the 1.7 billion electrified globally between 1990 and 2010), 283 million more than their population increase. The most impressive expansion of electrification occurred in India, China, Indonesia, Pakistan and Bangladesh. The advances in these populous countries are of enormous significance for achievement of the global universal access target.


The detailed World Bank report identified India as the most deprived country in terms of access to energy: as many as 306.2 million of its people are still without this basic utility. The remaining 19 nations lacking access to energy, with the number of deprived people is as follows: Nigeria (82.4 million), Bangladesh (66.4 million), Ethiopia (63.9 million), Congo (55.9 million), Tanzania (38.2 million), Kenya (31.2 million), Sudan (30.9 million), Uganda (28.5 million), Myanmar (24.6 million), Mozambique (19.9 million), Afghanistan (18.5 million), North Korea (18 million), Madagascar (17.8 million), the Philippines (15.6 million), Pakistan (15 million), Burkina Faso (14.3 million), Niger (14.1 million), Indonesia (14 million) and Malawi 13.6 million).



In addition to access to electricity, the report also details access to non-solid fuels like oil and natural gas (fuels other than firewood, dung or charcoal commonly used in poor countries for cooking) as a key parameter of progress in terms of energy. Such access helps reduce environmental pollution and associated human health hazards.


The goal of universal access to modern energy depends critically on  the efforts of 20 high-impact countries which include Bangladesh, China, India and Pakistan. Together, these 20 countries account for more than two thirds of the population currently living without electricity (0.9 billion people) and more than four-fifths of the global population without access to non-solid fuels (2.4 billion people). In terms of electricity, India has by far the largest access deficit; exceeding 300 million people, while for non-solid cooking fuel, India and China each have access deficits exceeding 600 million people.



This tracking report is part of UN's Sustainable Energy For All (SE4ALL) Initiative launched in 2012.  The initiative recognizes the importance of universal access to modern energy as a key part of empowering the poor and lifting large numbers of people out of poverty and deprivation.

For the newly-connected rural poor in Pakistan, even a couple of hours of electricity a day is better than no electricity all. Even a brief period of service enables them to charge up their cell phones and watch a little bit of television to stay informed and connected.These small things significantly improve the quality of life of those who lived without any electrical connections in the last decade or two. Eventually one hopes that the energy crisis will be resolved to  bring supply and demand in better balance.

Related Links:

Haq's Musings

Pakistan Leads South Asia in Clean Energy

India's Air Most Toxic in the World

World Bank Data on Energy Use Per Capita

Pakistan Needs Shale Gas Revolution

US Census Bureau's International Stats  

Pakistan's Vast Shale Gas Reserves

US AID Overview of Pakistan's Power Sector 

US Can Help Pakistan Overcome Energy Crisis

Abundant and Cheap Coal Electricity

US Dept of Energy Report on Shale Gas

Pakistan's Twin Energy Crises

Pakistan's Electricity Crisis

Pakistan's Gas Pipeline and Distribution Network

Pakistan's Energy Statistics

US Department of Energy Data

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Thursday, June 6, 2013

India's Share of Poor Jumps as World Poverty Declines

A billion people were lifted from abject poverty between 1980 and 2010. China accounts for nearly three quarters of these, or 680 million people brought out of misery, by reducing its extreme-poverty rate from 84% in 1980 to 10% now, according to a report in The Economist.  The report adds that with "poorer governance in India and Africa, the next two targets, means that China’s experience is unlikely to be swiftly replicated there".


Source: Where Are the Poor and Where Are the Poorest?

As China's share of the world's extreme poor (living below $1.25 per day per person level) has dramatically declined, India's share has significantly increased.  India now contributes 33% (up from 22 % in 1981). While the extreme poor in Sub-Saharan Africa represented only 11 percent of the world’s total in 1981, they now account for 34% of the world’s extreme poor, and China comes next contributing 13 percent (down from 43 percent in 1981), according to the World Bank report titled State of the Poor.

Pakistan's Share of World's Poor Equals its Share of World Population


The share of poverty in  South Asia region excluding India has slightly increased from 7% in 1981 to 9% now, according to the report.

The Economist offers a description of what extreme poverty means in the poor countries and how it compares with poverty in the developed world as follows:  Nobody in the developed world comes remotely close to the poverty level that $1.25 a day represents. America’s poverty line is $63 a day for a family of four. In the richer parts of the emerging world $4 a day is the poverty barrier. But poverty’s scourge is fiercest below $1.25 (the average of the 15 poorest countries’ own poverty lines, measured in 2005 dollars and adjusted for differences in purchasing power): people below that level live lives that are poor, nasty, brutish and short. They lack not just education, health care, proper clothing and shelter—which most people in most of the world take for granted—but even enough food for physical and mental health. Raising people above that level of wretchedness is not a sufficient ambition for a prosperous planet, but it is a necessary one.



How poor is India? An Oxford study found last year that India has more poor than the poor population of all of sub-Saharan Africa. The latest World Bank data shows that India's poverty rate of 27.5%, based on India's current poverty line of $1.03 per person per day, is more than 10 percentage points higher than Pakistan's 17.2%. Assam (urban), Punjab and Himachal Pradesh are the only three Indian states with similar or lower poverty rates than Pakistan's.




Chinese success can at least partially be attributed to its communist party's heavy handed actions to suppress political chaos on the streets and sustain rapid economic growth since 1980s. Tienanmen Square in Beijing was the scene of the communist government crackdown by the units of the People's Liberation Army (PLA) against mass students protests in 1989, an action that was widely condemned by the western world and the United Nations. Since the death of Chairman Mao and passing of the leadership to late Deng Xiaoping in 1980s, the Chinese communist party has pursued liberalizing the nation's economy without political liberalization, in the same way other East Asians did earlier.

The Chinese strategy has allowed the nation to pursue rapid industrialization with accelerated economic growth over the last two decades, while forcefully controlling the chaos on the streets, to lift a record number people out of poverty.

Unlike "autocratic" China, "democratic" India has failed to use a period of high economic growth to lift hundreds of millions of people out of poverty, falling far short of China’s record in protecting its population from the ravages of chronic hunger, a United Nations officials has said.


Here's a video clip on grinding poverty in resurgent India:



Richest 300 people together have as much wealth as the bottom 3 billion people. On average, people in rich countries have 80 times more wealth than the people in the poor countries. Watch this video on extreme wealth inequality in the world today:



Related Links:

Haq's Musings

World Bank on Poverty Across India

Superpoor India's Superpower Delusions

Are India and Pakistan Failed States?

India Home to World's Largest Number of Poor, Hungry and Illiterate

India Leads the World in Open Defecation

India Tops in Illiteracy and Defense Spending

Indians Poorer than sub-Saharan Africans
India Leads the World in Open Defecation

India Tops in Illiteracy and Defense Spending

Indians Poorer than sub-Saharan Africans

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