India’s Per Capita Income Growth Is Out Of Sync With GDP Growth
According to the latest data from the Ministry of Statistics & Programme Implementation (MoSPI), the country’s per capita income (at 2011-12 prices) registered a growth of 5.6 % during 2018-19 as compared to 5.7% in the previous year. India’s GDP, on the other hand, showed a growth rate of 6.8% in 2018-19 as compared to the growth rate of 7.71 % in 2017-18.
Source - MoSPI Per capita income in real terms (at 2011-12 prices) during 2018-19 is estimated to have attained a level of Rs 92,565 as compared to Rs 87,623 for the year 2017-18.
Source - MoSPI
Usually, the pace of growth of an economy is measured by the GDP numbers but per capita income is also crucial since it shows the development of the citizens over the years. As such, India’s per capita income is not keeping pace with its stated GDP growth.
Also one has to keep in mind India’s population growth rate which currently stands at 1.02%, according to the World Bank, in comparison to China’s 0.6%.
Source - MoSPI Per capita income in real terms (at 2011-12 prices) during 2018-19 is estimated to have attained a level of Rs 92,565 as compared to Rs 87,623 for the year 2017-18.
Source - MoSPI
Usually, the pace of growth of an economy is measured by the GDP numbers but per capita income is also crucial since it shows the development of the citizens over the years. As such, India’s per capita income is not keeping pace with its stated GDP growth.
Also one has to keep in mind India’s population growth rate which currently stands at 1.02%, according to the World Bank, in comparison to China’s 0.6%.
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