Know per capita income of India: 68 years have been completed of the country from Independence. In these years, India has become the world’s third largest economy. Rapid economic progress has also had a direct effect on people’s income. At the time of independence in 1947, where per capita income was only 249.6 rupees annually. There has been an increase in the record by 200 per cent. By 2015, this has increased to Rs 88,533 per annum. more details for Know how much per person income of India from below.
Know how much per person income of India
Per capita income and measurement scale
Per capita income means direct income from the income of a person. Through this, it can be used to know the living conditions of the people and the personal economic status of the people. Indeed, per capita income is the scale through which it realizes how much a person’s annual income is in a country. It also shows the quality of life and quality of people living in a country, city, and area. To find out how much of a person’s earnings are in one year, the per capita income is calculated By the total population divided by the total income of the country…
Per capita income during independence and in 2015
People’s income has continued to grow after independence. This increase has seen more from 1991. In the year 1947, where per capita income was Rs 249.6, there was a 200 per cent increase in records. Per capita income has increased tremendously during the last four years. According to the Ministry of Statistics and Program Implementation, per capita income has increased by 37 per cent between FY 2011 and 2015. According to the figures given per year per person, per capita income was Rs 64,316 in FY 2011-12, which increased to Rs 71, 593 in the financial year 2012-13. Similarly, the per capita income in the financial year 2013-14 was Rs 80,388, which has increased to Rs 88, 533 in the financial year 2014-15.
How does GDP decide in India?
Agriculture, industry and service are three major components in India. The GDP rate is fixed on the basis of average increase or decrease in production. If we say that the country’s GDP is registering an increase of three per cent (3%) per year. Then it should be understood that the economy is growing at three percent rate. But often this figure does not include the inflation rate. GDP is calculated in India every quarter. The GDP figure is based on the growth rate of production in the major production areas of the economy.
Latest GDP Data of India
|GDP (PPP)||2019 estimate|
|GDP (nominal)||2019 estimate|
|GDP||$2.454 trillion (nominal; 2017)|
$9.489 trillion (PPP; 2017)
|GDP rank||6th (nominal); 3rd (PPP)|
|GDP growth||6.7% (IMF, 2017)|
|GDP per capita||$1,850 (nominal est.; 2017)|
$7,153 (PPP est; 2017)
|GDP per capita rank||141st (nominal) / 123rd (PPP)|
|GDP by sector||Agriculture: 17.32%|
Services: 53.66% (2016 est.)
|Inflation (CPI)||1.54% (June 2017)|