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Indians richer! Per capita income at Rs 46,492
Per capita income of Indians grew by 14.5 per cent to Rs 46,492 in 2009-10 from Rs 40,605 in the year-ago period, as per the revised data released by the government on Monday.
The new per capita income figure estimates on current market prices is over Rs 2,000 more than the previous estimate of Rs 44,345 calculated by the Central Statistical Organisation.
Per capita income means earnings of each Indian if the national income is evenly divided among the country's population at 117 crore (1.17 billion).
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Indians richer! Per capita income at Rs 46,492
However, the increase in per capita income was only about 6 per cent in 2009-10 if it is calculated on the prices of 2004-05 prices, which is a better way of comparison and broadly factors inflation.
Per capita income (at 2004-05 prices) stood at Rs 33,731 in FY10 against Rs 31,801 in the previous year, the latest data on national income said.
The size of the economy at current prices rose to Rs 61,33,230 crore (Rs 61,332.30 billion) in the last fiscal, up 16.1 per cent over Rs 52,82,086 crore (Rs 52,820.86 billion) in FY'09.
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Indians richer! Per capita income at Rs 46,492
Based on 2004-05 prices, the Indian economy expanded by 8 per cent during the fiscal ended March 2010. This is higher than 6.8 per cent growth in fiscal 2008-09.
The country's population increased to 117 crore at the end of March 2010, from 115.4 crore (1.154 billion) in fiscal 2008-09.