Government sees FY17 per capita income rising 10 per cent to Rs 103,818

By: | Published: February 28, 2017 9:33 PM

India's per capita net national income is expected to rise 10.2 per cent to Rs 103,818 in the current fiscal, government data showed today.

Government, FY17, Per Capita Income, India, Ministry of Statistics and Programme Implementation, Gross National IncomeThe per capita national income during 2015-16 stood at Rs 94,178, an increase of 8.9 per cent from the previous fiscal.

The per capita national income during 2015-16 stood at Rs 94,178, an increase of 8.9 per cent from the previous fiscal.

“The per capita net national income during 2016-17 is estimated to be Rs 103,818 showing a rise of 10.2 per cent as compared to Rs 94,178 during 2015-16 with the growth rate of 8.9 per cent,” as per data on Second Advance Estimates of National Income, 2016-17.

The data was released by the Ministry of Statistics and Programme Implementation.

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In real terms, the per capita income (at 2011-12 prices) during the current fiscal is likely to attain a level of Rs 82,112, compared with Rs 77,524 for 2015-16.

“The growth rate in per capita income is estimated at 5.9 per cent during 2016-17, as against 6.6 per cent in the previous year,” the ministry said.

The Gross National Income (GNI) at 2011-12 prices is estimated at Rs 120.28 trillion for 2016-17, up 7.2 per cent from Rs 112.22 trillion estimated for 2015-16.

In an interesting unveiling of economic data today, it was revealed that India’s GDP grew at 7 pct in Q3 while full year growth was retained at 7.1 pct. . This belied fears that note ban would have severely impacted economic activity. The Central Statistics Office (CSO) has retained the growth projection for the current fiscal at 7.1 per cent, as projected in the first advance estimate in January.

Meanwhile, the CSO has also marginally revised upwards the GDP estimates for the first and the second quarters to 7.2 per cent and 7.4 per cent. It was feared that demonetisation effected in the middle of the third quarter (November 9, 2016) would have adverse bearing on various segments of the economy.

The Reserve Bank of India and other agencies like IMF and OECD had lowered GDP projections arguing that the note ban would have short-term impact on the Indian economy.

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