India has moved up one position to 126th in terms of GDP per capita of countries. However, it is still ranked lower than all its BRICS peers, while Qatar remains the world’s richest on this parameter, as per International Monetary Fund data.
The data, which forms part of the latest World Economic Outlook report of the International Monetary Fund, ranks over 200 countries in terms of per capita GDP based on purchasing power parity (PPP). PPP between two countries is the rate at which the currency of one country needs to be converted into that of a second country to ensure that a given amount of the first country’s currency will purchase the same volume of goods and services in the second country as it does in the first.
Credit: indianexpress.com
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