Prepare a comparative study of a developed and developing country between India and USA. Stressing on the output (GDP), various sectors of economy, their contribution, national income, per capita income and living standards of the people.
Answers
1- Less industries.
2- Developing country
3- Infant mortality rate, death rate and birth rate is low while the life expectancy rate is low.
4- Unemployment and poverty rate is high.
5- Standard of living is low.
6- Effective rate of industrialization.
7- National income is 6.7 trillion PPP dollars.
8- GDP is 1,498.87 USD
9- 5,350 PPP dollars
USA -
1- U.S. experienced productivity growth of about 2% per year.”
2- Developed country
3- Infant mortality rate, death rate and birth rate is low while the life expectancy rate is high.
4- Unemployment and poverty rate is low.
5- Standard of living is high.
6- Slow rate of industrialization
7- National income is 16.99 trillion PPP dollars
8- GDP is 53,041.98 USD
9- Per capita income is 53,750 PPP dollars
- MEWW
Well we all know that USA is a country where we can see a lot of developed places because of the many reasons like “the USA might have started the phase of development long ago”. Our country India a currently is developing country from all the sectors and aspects in all the way. The development in our country is going bit slow because in our country the poverty rate is too high when compared to that of the country USA. The development in our country i.e. India is bit slow because of the lack of awareness among the people which is a bad influence but yet now we are trying are level best for the development in our country.
GDP of country USA in the year of 2014 - $17.914 trillion
GDP of country India in the year of 2014 - $ 2066.90 billion
Well if we compare the GDP of our country i.e. India and USA we can easily see it clearly that USA is too much developed when compared to our country. Really USA is too far away in development when compared to our country India.
Economy from various sectors we know that in the developed countries like USA people work, there will be very less people whom we can find don’t at all work. But in countries like India we can see that most of the people aren’t literate and even the rate of poverty in our country is far away long from that of the country like USA. People in India aren’t more over known about the things in the normal society. The economy is more in the country i.e. USA because the people work there for a lot of money. But in India people work for around 12-14 hours for only 200 rupees only. Therefore the income from various sectors in USA is more when compared to that of the India.
The contribution from the people side that is the tax paid by the people is more in the country USA because people earn more, have more properties and even they have enough to have with them. Therefore the payment of the tax by the people there in the USA is more and the people pay it without any problem. Now the tax given by the people in India, we know that in India there are three kind of people classified according to their income or the standards of living they are the Rich class, Middle class and the poor one. Well in India there people who cannot even earn about 200/- per day and there are some people who earn more than 10,000 in just an hour or so. By this only we can say that the tax payment by the people in India is less than that of the people in USA.
The national income is $ 6.7 trillion in India
The national income is $ 16.99 trillion in USA
By this nation income it-self we can say that the USA is a well developed country when compared to that of the India.
The per capita income is too high in the country USA when compared to our country that is India. It is because of many reason like the people are most below the poverty line and even the people aren’t literate and even they aren’t aware of all these things. But in USA we can see that people are working a lot for their livelihood.
GDP per capita of our country India in the year of 2013 -1,498.87 USD
GDP per capita of USA in the year of 2013- 53,750 PPP dollars
The living standard of the people in India is far away low when compared to that of the standards of living to the people living in the country of USA. Because the people in USA are earning a lot when compared to that of the people in our country that is India.
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Conclusion :
India :
1. Developing country
2. the economy from all sectors is bit less or medium
3. The national income $ 6.7 trillion
4. The GDP is $17.914 trillion - 2014
5. GDP per capita income is 1,498.87 USD - 20136. The living standards of the people is bit less.
USA :
1. Developed country
2. the economy from all sectors is more
3. The national income $ 16.99 trillion
4. The GDP is $ 2066.90 billion 20145. GDP per capita income is 53,750 PPP dollars 2013
6. The living standards of the people is more.