New Delhi: Data released by the National Statistical Office (NSO) revealed that India’s per capita income has doubled since Narendra Modi became Prime Minister of the country in 2014. As per the data, the per capita income doubled to Rs 1,72,000.
According to data, the estimated annual per capita (net national income) at current prices for 2022-23 is Rs 1,72,000. It shows a growth of around 99% from Rs 86,647 in 2014-15. However, after adjusting for inflation (constant prices), the per capita income has risen by approximately 35% from Rs 72,805 in 2014-15 to Rs 98,118 in 2022-23.
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As per the NSO data, the per capita income declined during the Covid period, both in real and nominal terms. However, it has picked up in 2021-22 and 2022-23.
According to the economic research report ‘Ecowrap’ released by State Bank of India, India’s per capita GDP at current prices is estimated at Rs 1,96,716, compared to Rs 71,609 in FY12, showing a compounded annual growth rate (CAGR) of 10.6%.
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