India Per Capita Income: Per capita income doubled during Modi government’s tenure, this challenge remains

India’s Per Capita Income has increased rapidly during the last few years. According to the latest figures, the country’s per capita income on a nominal basis is estimated to reach Rs 1.72 lakh, which was just over Rs 88 thousand in the year 2014-15 (FY15). This means that India’s per capita income has almost doubled during these years. The latest estimate suggests that in 2022-23 the country’s per capita income can reach Rs 1,72,000 on a nominal basis i.e. according to current prices. This figure is about 99 per cent higher than Rs 86,647 in 2014-15. Prime Minister Narendra Modi. This means that the country’s per capita income has doubled during the Modi government’s tenure. Challenges remain. Especially the difference in the earning of the people i.e. the gap between the earning of upper class and lower class is a matter of concern. On the other hand, on the basis of current prices i.e. in real terms, there has not been much increase in per capita income since 2014-15. According to this, the per capita income of the country was Rs 72,805 in 2014-15, which can reach Rs 98,118 in 2022-23. This means a 35 per cent increase in per capita income is possible during these years.

Covid has a negative impact

According to NSO data, affected by the covid-19 pandemic There was a negative impact on per capita income during the period both at current prices and at constant prices. However, during the subsequent years i.e. 2021-22 and 2022-23, it again saw a good growth.

This is the reaction of economists

Economists on the latest figures of per capita income Feedback varies. In a PTI news, economist Jayanti Ghosh expresses concern over the inequality of income distribution. Ghosh says that the main reason for the increase in per capita income is the increase in the income of the top 10 percent of the population. On the other hand, Pinaki Chakraborty of NIPFP describes this increase as very important. ISID director Nagesh Kumar says that this figure of increase in per capita income shows a glimpse of increased prosperity in the country.

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