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The per capita income at current prices is estimated at Rs 29,642 in 2006-07 as against Rs 25,956 for the previous year, depicting a growth of 14.2 per cent, according to the figures released today by Central and Statistical Office (CSO).
If adjusted against inflation, the per capital income at current prices rose by 8.1 per cent during the year and was estimated at Rs 22,553 as against Rs 20,858 for the previous year.
Analysts said the spurt in households' income levels explains the boom in retail sector, sale of more two and four wheelers, mobiles and branded products in urban and non-urban areas.
Commenting on the impact of 9.6 per cent GDP growth during 2006-07 on household income, HDFC Chief Economist Abheek Baruah said, "Since the pie has increased, it would be reflected in the personal income."
On an average, the households spent as much as Rs 20,714 at current prices, about 70 per cent of their income, and saved the remaining. In the previous year, the households spent 71.83 per cent of their income and saved the rest.
Interestingly, the highest growth in personal expenditure was noticed in communication sector that comprises mobiles, TV and newspapers. The total spent on this sector grew as much as 35.6 per cent during the year.
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what ever it is, how much ever the per capital income increases, india will be a poor, underdeveloped country. By just keeping I.T sectors in mind india cannot acheive anything. what is the conditions of the farmers, they are still left poor, rich soceity are growing more and more, wat about the peoples of middle class and poor. still people below poverty lines are below. will they come up who will suport them and what are the measure.
per capita income means average of all indians wether one is below poverty line.
People who know Pareto's theory will understand that contribution to high per capita income is more from upper strata.This only means richer are getting richer and poor are getting poorer.This is a stupid statement.The real measure is HDI (human development index) where we have declined.This is UPA's achievement!
of Indian population lives with monthly income of 2000 rupees or less. These are the major reason for civil unrest and spread of extremist movements all over India. It'll be very helpful if we get the data regarding reduction of poverty level (on % of population basis). Income of some people like (world’s richest person, Mukesh Ambani or so).
of Indian population lives with monthly income of 2000 rupees or less. These are the major reason for civil unrest and spread of extremist movements all over India. It'll be very helpful if we get the data regarding reduction of poverty level (on % of population basis). Income of some people like (world’s richest person, Mukesh Ambani or so).
According to another Govt report, about 34% of Indian earn less than 450 rupees per month. About 80% of Indian population lives with monthly income of 2000 rupees or less. These are the major reason for civil unrest and spread of extremist movements all over India. It'll be very helpful if we get the data regarding reduction of poverty level (on % of population basis). Income of few ultra rich people like world’s richest person, Mukesh Ambani, can skew the par capita income and may not truly reflect the situation of common people.
According to another Govt report, about 34% of Indian earn less than 450 rupees per month. About 80% of Indian population lives with monthly income of 2000 rupees or less. These are the major reason for civil unrest and spread of extremist movements all over India. It'll be very helpful if we get the data regarding reduction of poverty level (on % of population basis). Income of some people like (world’s richest person, Mukesh Ambani or so).
That's true.
I wonder from where they get these figures. I am sure the article is from Grade 1 cities and is not across the country. Please do not misguide the public and be realistic and factual.Rich have got richer by 14% perhaps, but teh poor have got poorer by far maore percentage points.
I do not agree that the current wealth created is cascading down to the poor masses. i still see the shanties and juggy jopdies and beggars on the streets of Mumbai and Delhi. Only the rich are getting richer likes of Ambanies and Birla's and Tata's. Poor people of India are still struggling to make both ends meet on daily basis. The new working middle classes and entepruneurs are struggling with new taxes which are stangulating their businesses. Dont look at the share market index and form opinion about India shining. We still hv to do much more to make the current wealth create reach the real masses in India. Look at China where the people are really getting richer and their per capita going up. Earlier we used to see Hongkong chinese going to Mainland china for shopping or holidaying. But now the mainland chinese are coming to Hongkong for shopping and holidaying. India has to first clear of all the bureaucratic barriers and communinal mindset to move forward like china. Without that i think India will still remain backward and keep showing outward and superficial progress to the outside world.
Bless the wealth creators, but not forgetting the quantum effect of FDI,on poverty alleviation and job creation bonanza. Adoption of market economy and unfettered acceptance of FDI will allow India's per capita even shine brighter. Breakdown the barriers of Licence Raj and systemic corrupt Bureaucracy and allow India to prosper and glitter as never before.
I AGREE, MY OBSERVATION SAYS, SINCE LAST 24 YEARS, THE NUMBERS OF BEGGARS HAVE FALLEN, MY FOREIGN GUESTS ARE ALSO PLEASED WITH THAT CREATING JOB OPPORTUNITIES IS THE KEY TO POVERTY, AND CREDIT GOES TO, NOT THE LAZY GOVERNMENT(WHO WANTS CREDITS FOR EVERYTHING) BUT THE AMBANIS, NARAYAN MURTHYS PREMJIS, TATAS BAJAAJS AND MANY OTHER UNSUNG HEROS. WITHOUT CORRUPT GOVT'S INTERVENTIONS, INDIA CAN TRULY BE A GREAT PROSPEROUS NATION, (ONE DAY IT WILL HAPPEN)
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