India more prosperous than China !

Posted: 31 Oct 2009 12:42 Most of you must be aware that China’s per capita income (average income of an individual per year) is more than double of India – India’s is close to $3000 whereas, China’s is close to $6000 (after accounting for purchasing power parity). In short, average Chinese citizen makes double the money than average Indian citizen. However, India is more prosperous that China – and that is a fact. In reality, prosperity does not mean only having more money, but there is much more to it including the well-being and freedom of an Individual. Hence, rightly so, India ranks well ahead of China according to the latest Legatum Prosperity Index – Unlike other studies that rank countries by actual levels of wealth, life satisfaction or development, the Prosperity Index produces rankings based upon the very foundations of prosperity – those factors that help drive economic growth and produce happy citizens over the long term. The prosperity Index is derived based on following 9 Factors: Economic Fundamentals – a growing, sound economy that provides opportunities for wealth creation Entrepreneurship and Innovation – an environment friendly to new enterprises and the commercialization of new ideas Democratic Institutions – transparent and accountable governing institutions that promote economic growth Education – an accessible, high-quality educational system that fosters human development Health – the physical well being of the populace Safety and Security – a safe environment in which people can pursue opportunity Governance – an honest and effective government that preserves order and encourages productive citizenship Personal Freedom – the degree to which individuals can choose the course of their lives Social Capital – trustworthiness in relationships and strong communities