Battling Economic Slowdown, India’s Monthly Per-Capita Income Surges 6.8 Per Cent To Rs 11,254 In FY 2019-20

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.