No, a lakh is not equal to 1 million.
Correct relationship:
- 1 lakh = 1,00,000
- 1 million = 10,00,000
Conversion:
- 1 million = 10 lakh
- 1 lakh = 0.1 million
Simple understanding:
- A lakh is one-tenth of a million
- A million is ten times a lakh
Key Takeaway:
A lakh and a million are not equal - 1 million = 10 lakh.