Indians neither earn nor spend enough%u2019 New Delhi, August 01: India and China, the two economic powerhouses on a rapid growth path, are lagging in terms of living standards and economic well-being of their populations, the study says. Their people neither earn nor spend enough and India, in particular, will take decades to reach the level of better off countries like Brunei, it said. According to the %u2018International Comparison Program (ICP) in Asia and the Pacific: Purchasing Power Parity Preliminary Report%u2019 released on Tuesday, China and India lead in terms of total size of economy, accounting for 64 per cent (China -45, India-19) of the total real gross domestic product (GDP) of the 23 countries participating in the study. However, a completely different picture emerges once the size of population of these countries is taken into account. In terms of share of every citizen in GDP (per capita), India sinks to 18th and China to the 10th rank. Additionally, in terms of consumption of each household, China ranks 15th and India, 17th. This is a comparison calculated on the basis of %u201Cactual final consumption of households%u201D (AFCH) that is a combination of what every household purchases and what it is provided for individual use by the government (principally, education and health). The economic well-being of the population is obtained by comparing household consumption expenditure per capita. The five economies that top the list are Hong Kong, (HK$1
