Business Daily from THE HINDU group of publications
Saturday, May 31, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, May 31, 2008 ePaper | Mobile/PDA Version | Audio |
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Economy Industry & Economy - Economy Average income is Rs 33,299 Since the start of this century, the per capita income of Indians has doubled. For 2007-08, the country’s per capita net national product (NNP) at factor cost -- what is commonly called per capita income – is estimated at Rs 33,299 at current prices. In 2000-01, this was Rs 16,688. In other words, the annual income accruing to an ‘average’ Indian has been rising by about 9.9 per cent every year on a compounded basis since 2000-01. The numbers are different when one discounts for inflation. The per capita NNP at constant 1999-2000 prices amounted to Rs 24,321 in 2007-08, which is 50 per cent more than the Rs 16,172 for 2000-01 or a compounded annual growth of 5.8 per cent. Thus, while the average income of Indians has gone up 100 per cent since 2000-01, the actual ‘purchasing power’ adjusted for inflation is higher by 50 per cent. More Stories on : Economy | Economy
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