India's per capita income grows by 8.6% to Rs. 1.13 lakh in FY18

India's per capita income grows by 8.6% to Rs. 1.13 lakh in FY18

Economy growth

NEW DELHI: India's per capita income grew at a slower pace of 8.6 percent to Rs. 112,835 during the last fiscal ended March 2018, official data showed on May 30. The per capita net national income in 2016-17 stood at Rs. 103,870, witnessing a growth of over 10.3 percent 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. 112,835 as compared to the estimates for the year 2016-17 of Rs. 103,870, showing a rise of 8.6 percent," showed the provisional estimates of annual income, 2017-18 released by the Ministry of Statistics and Program 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 percent 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 per cent during 2017-18, as against 5.7 percent in the previous year," the release said. The country's gross national income (GNI) at current prices witnessed a rise of about 10 percent at Rs. 165.87 lakh crore during 2017-18 as against Rs. 150.77 lakh crore during 2016-17.

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