Insta
Battling Economic Slowdown, India’s Monthly Per-Capita Income Surges 6.8 Per Cent To Rs 11,254 In FY 2019-20
(Representative Image) A bank employee hands new Rs 500 rupee notes to a customer on 24 November 2016. Photo credit: INDRANIL MUKHERJEE/AFP/GettyImages
Despite a wave of economic slowdown persisting in the nation, India witnessed its per-capita monthly income rise by 6.8 per cent in the ongoing financial year 2019-20 as per the government data on national income revealed on Tuesday (7 January), reports Hindu Businessline.
“The Per Capita Net National Income during 2019-20 is estimated to be Rs 1,35,050 showing a rise of 6.8 per cent as compared to Rs 1,26,406 during 2018-19,” according to the annual national income and GDP 2019-20 data released by the Ministry of Statistics and Programme Implementation (MoSPI).
It should be noted though that in 2018-19, the figure had risen by a more impressive 10 per cent.
The rise in per-capita income gains significance as it serves as a crude indicator of the prosperity of a country.
According to the first advance estimates of the national income released by the National Statistical Office, the growth in real GDP during 2019-20 is estimated at 5.0 per cent as compared to the growth rate of 6.8 per cent in 2018-19. The dip in growth comes mainly due to poor performance of manufacturing and construction sectors.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
