New Delhi ∙ In the past year, even as the cost of living in other countries has risen, India has fared better, according to a report by the State Bank of India’s Research Unit. Compared to countries like the USA, the UK and Germany, India has seen the least increase in the cost of living.
The report has been prepared by calculating the cost of living in each of the 4 countries based on rupees (exchange rate). Assuming that the cost of living in these countries is Rs 100 in September 2021, the highest cost is now in the UK; 123 Rs. Germany second; 120 Rs. 3rd US; 112.5 Rs. India is fourth; 112.1 Rs.
A 57% increase in per capita income
According to International Monetary Fund estimates of the last 8 years, India’s per capita income has increased by 57%. The increase in other countries is as follows: China 88%, US 36%, UK –1%, France -5%, Russia 5%, Italy –6%, Brazil –27%, Germany 1%, Japan –11%
English Summary: Cheaper to live in India than the USA, the UK and Germany