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‘Sabka Saath, Sabka Vikas’ Indeed: Per Capita Income Increases By 45 Per Cent Under Modi Government, Says CSO
Prime Minister Narendra Modi (Chip Somodevilla/Getty Images)
According to the latest estimates released by Central Statistics Office (CSO), average per capita income an Indian citizen grew by over 45 per cent in the first four years of the Narendra Modi government, reports Business Standard.
Also, the average per capita income has doubled in the seven years between 2011-12 to 2018-19. While it stood at Rs 63,642 per year in the former year, it rose to Rs 1.25 lakh in the latter.
“The Per Capita Net National Income during 2018-19 is estimated to be Rs 1,25,397 showing a rise of 11.1 per cent as compared to Rs 1,12,835 during 2017-18 with the growth rate of 8.6 percent,” stated a release by the Ministry of Statistics and Programme Implementation.
Lower in ‘real’ terms
However, the per capita Income in real terms (at 2011-12 prices) during 2018-19 is likely to attain a level of Rs 91,921. Real per capita is arrived at after deducting inflation rates from the nominal figures (the ones mentioned above).
It should also be noted that India’s per capita income growth between 2014-15 and 2016-17 was lower than that of its neighbours like Bhutan, Nepal, China, Bangladesh and Pakistan. India was only ahead of Sri Lanka.
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