Question

a) Is Sri Lanka far ahead than India? Examine this, with reason, using the above data
b) Bangladesh has high Life expectancy than India, but its HDI is lower than India. Why?
c) What does ‘Per capita Income” in US$’ indicates?

Answer 1

The free-market economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019[26] and $296.959 billion by purchasing power parity (PPP).[27] The country has experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers driven by the growth of non-tradable sectors which the World Bank warned to be both unsustainable and unequitable and has slowed since then. In 2019 with an income per capita of 13,620 PPP Dollars[28] or 3,852 (2019) nominal US dollars,[29][30] Sri Lanka was re-classified as a lower middle income nation by the World Bank from a previous upper middle income status.[31]