As per the latest statistics released by the officials, India’s per capita income in nominal terms has doubled to 1,72,000 since 2014-15 when the Narendra Modi-led National Democratic Alliance (NDA) came to power.
As per the National Statistical Office (NSO), the annual per capita (net national income) at current prices is estimated at 1,72,000 in 2022-23, up from *86,647 in 2014-15, suggesting an increase of about 99 per cent.
In real terms (constant prices), the
per capita income has increased by
about 35 per cent from ₹72,805 in 2014-
15 to 98,118 in 2022-23.
Yet Govt claim on the same is debatable as uneven income distribution still remains a challenge.
Commenting on the same , Noted Economist said that we were looking at GDP in current prices, but if we account for inflation, the increase is much less.
Also, Most of this increase is confined to the top 10 percent of the population in India. In contrast,median wages are falling, and possibly even lower in real terms as per the expert reports.
According to the NSO data, the per capita income has dipped during the Covid time, both in real and nominal terms. However, it has picked up in 2021-22 and further in 2022-23.
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