India's per Capita Income Grows by 8.6% to Rs 1.13 Lakh in FY18

Credit: PTI

New Delhi, May 31 (PTI) India’s per capita income grew at a slower pace of 8.6% to Rs 1,12,835 during the last fiscal ended March 2018, official data showed today.

The per capita net national income in 2016-17 stood at Rs 1,03,870, witnessing a growth of over 10.3% from the preceding fiscal ended March 2016 (at Rs 94,130).

“The per capita income at current prices during 2017-18 is estimated to have attained a level of Rs 1,12,835 as compared to the estimates for the year 2016-17 of Rs 1,03,870, showing a rise of 8.6%,” showed the provisional estimates of annual income, 2017-18 released by the ministry of statistics and programme implementation (MOSPI).

The per capita income is a crude indicator of the prosperity of a country.

In real terms, calculated at constant prices with base 2011-12, the per capita income grew by 5.4% to Rs 86,668 in 2017-18 as compared to Rs 82,229 in 2016-17.

“The growth rate in per capita income is estimated at 5.4% during 2017-18, as against 5.7% in the previous year,” the release said.

The country’s gross national income (GNI) at current prices witnessed a rise of about 10% at Rs 165.87 lakh crore during 2017-18 as against Rs 150.77 lakh crore during 2016-17.

While on real terms (with 2011-12 base year), the GNI increased at a slower rate of 6.7% to Rs 128.64 lakh crore in fiscal ended March 2018, as against the previous year’s estimate of Rs 120.52 lakh crore.

For the fiscal year that ended in March 2017, the real term GNI grew by 7.1%.

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