Not just GDP, India’s per capita income growth to also fall in FY18

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Updated: January 5, 2018 7:38:41 PM

India's per capita income, a gauge for measuring living standard, is likely to witness a slower growth of 8.3% at Rs 1,11,782 in FY 2017-18.

(Image: Reuters)

India’s per capita income, a gauge for measuring living standard, is likely to witness a slower growth of 8.3% at Rs 1,11,782 in FY 2017-18. In 2016-17, per capita income of Indians had grown by 9.7% to Rs 1,03,219. “The per capita net national income during 2017-18 is estimated to be Rs 1,11,782 showing a rise of 8.3% as compared to Rs 1,03,219 during 2016-17 with the growth rate of 9.7%,” said First Advance Estimates of National Income, 2017-18′ released by the Central Statistics Office (CSO).

The per capita income in real terms (at 2011-12 prices) during 2017-18 is likely to attain a level of Rs 86,660 as
compared to Rs 82,269 for the year 2016-17, it said. The growth rate in per capita income (real terms) is estimated at 5.3 per cent during 2017-18, as against 5.7 per cent in the previous year, it added.

The economic growth is expected to slow to a four-year low of 6.5 per cent in 2017-18, the lowest under the Modi-led government, mainly due to poor performance of agriculture and manufacturing sectors. The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. It was 7.5 per cent in 2014-15.
The Narendra Modi-led NDA government had assumed office in May 2014.

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