Cost of living is important, and is reflected in the GDP per capita (Purchasing Power Parity) figures that can be found here:kum9999 said:well.. try to know the concepts of devaluation, cost of living, supressing stats, role of counterfiet currency in these stats. So dont go by GDP stats, they mean very less and dont capture the real picture.
cost of living In India with couple of dollars you can still get unlimited food, with 10-15dollars a monthly local bus pass. yearly vehicle insurance for 200-300 dollars.
more than 90% people dont report income in India..govt's devaluate currency nd underreport for different reasons.
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
According to these numbers, India ranks 126/189, 1 below the mighty economic powerhouse Cabo Verde!
As for counterfeit currency and devaluation, I again am not sure what these have to do with anything. Unless, of course, your argument is that crime is so rampant in India that official figures are completely wrong. In which case, I'm not sure that it really would be a better place to live than Canada for most honest hardworking folks.