Calculated on the basis of 2004-05 prices, the increase in per capita income is only 6.5%
New Delhi: Per capita income of Indians grew by 17.9% to Rs54,835 in 2010-11 from Rs 46,492 in the year before period, according to revised data published by the government on Tuesday.
The new per capita income figure estimates on current market prices is over Rs8,000 more than the previous estimate of Rs 46,492 calculated by the Central Statistical Organisation.
Per capita income, or earnings per person, is a numerical quotient arrived at by dividing the total national income by the country’s total population, PTI reports. It does not measure income distribution or wealth.
The increase in per capita income in 2010-11 is only about 6.5%, if it is calculated on the basis of 2004-05 prices, which is a more appropriate comparison and broadly factors inflation.
Per capita income (at 2004-05 prices) stood at Rs35,917 in FY11 as against Rs33,731 in the previous year, according to the latest data on national income.
The size of the economy at current prices rose to Rs73,06,990 crore in 2010-11, up 19.1% over Rs61,33,230 crore in FY10. The country’s population increased to 121 crore at the end of March 2011, from 117 crore in fiscal 2009-10.