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India was then a part of the sterling area, and the rupee was devalued on the same day by the same percentage so that the new dollar exchange rate in 1949 became ₹4.76 — which is where it stayed till the rupee devaluation of 1966 made it ₹7.50 to the dollar and the pound moved to ₹21.
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
Around 6.5 million Muslims moved from India to West Pakistan and 4.7 million Hindus and Sikhs moved from West Pakistan to India. [107] It was the largest mass migration in human history. [108] A subsequent dispute over the princely state of Jammu and Kashmir eventually sparked the Indo-Pakistani War of 1947–1948. [109]
Poverty in Pakistan has been recorded by the World Bank at 39.3% using the lower middle-income poverty rate of US$ 3.2 per day for the fiscal year 2020–21. [1] In September 2021, the government stated that 22% percent of its population lives below the national poverty line [ 2 ] set at Rs.
India, officially the Republic of India, [j] [20] is a country in South Asia.It is the most populous country in the world and the seventh-largest by area.Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; [k] China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the ...
The economy of Punjab is the 16th largest state economy in India with ₹ 8.02 lakh crore (US$94 billion) [1] in gross domestic product (GDP) for the 2024-25 fiscal year.It's per capita GDP ranks 19th amongst Indian states with US$3,338 (264,000).
After Comptroller and Auditor General of India found 200,000 complaints related to the foul smelling and blocked bio-toilets, IR announced that it will add 80,000 bio-toilets (each costing INR 1 lakh) in FY2018-2019 and will start installing much improved "vacuum bio-toilets" (each costing INR 2.5 lakh) as well. [32]