Poojitha Raam Vinay 
Quick Summary
India and Pakistan gained independence around the same time, yet their development paths have diverged significantly. As of 2024-25, India is the 5th largest economy in the world by nominal GDP, valued at approximately $4 trillion, and ranks 3rd globally by purchasing power parity (PPP) with a PPP G
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FAQ :
India has a significantly higher GDP per capita, with nominal figures around $2,850 compared to Pakistan's approximately $1,500.
Under the new tax regime in India for FY 2025-26, individuals with an income up to ₹12 lakh effectively pay 0% tax due to a rebate.
In Pakistan for FY 2024-25, the tax-free income threshold for salaried individuals is PKR 600,000 (approximately ₹1.9 lakh).
The top marginal income tax rate in India (new regime) is 30%, while in Pakistan, it is 35%.
Yes, India offers a standard deduction of ₹75,000 under the new tax regime for FY 2025-26.
Pakistan has raised tax rates aggressively to plug fiscal deficits, largely due to pressure from global lenders like the IMF.
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