Marginal Improvement In Living Standards: Indians’ Per Capita Income To Cross Rs 1 Lakh This Year

A bank staff member counts Indian 500 rupee notes to give to customers. (INDRANIL MUKHERJEE/AFP/Getty Images) 

India’s per capita income during 2016-17 is expected to exceed a lakh during the fiscal year 2016-17 ending March. The Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation has pegged the number at Rs 1,03,007, up 10.4 per cent from last year’s Rs 93,293. The per capita income is seen as a measure of the standard of living in a country.

In real terms (at 2011-12 prices), the CSO estimates the per capita income to be Rs 81,805 during 2016-17, up 5.6 per cent from Rs 77,435.

As per the CSO’s 'First Advance Estimates of National Income, 2016-17', Indian economy is projected to grow at 7.1 per cent during 2016-17, down from 7.6 per cent the previous year. The 7.1 per cent figure has been arrived at without taking into consideration the impact of demonetisation.

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