India’s per capita income has increased to 172000 before 2014-15. During 2014–15, the typical Indian’s income has nearly doubled, but this growth is slower than in previous years.
Details about India’s per capita income has increased to 172000 before 2014-15
According to projections from the National Statistical Office, India’s per capita net national income (at current prices) for 2022–2023 is INR 172,000. (NSO). This represents a nearly 100% increase from the per capita income of INR 86,647 in 2014–15, the year the Narendra Modi government first took office.
During the COVID-19 outbreak, per capita incomes fell, although they rose in 2021–2022 and 2022–2023. Why do Indians, however, not seem to feel as wealthy?
This is due to India’s 1.4 billion people’s still greatly unequal wealth distribution. The average income of a person living in a given area is known as per capita income, and it is calculated by dividing total area income by the population of that area. Hence, the per capita income rises when the average income of specific population categories rises.
It is evident that India has to incorporate its women as it attempts to take advantage of its demographic dividend and pursue higher quality growth. Due to the fact that the majority of job prospects in the formal sector are located in urban areas, there is historically a great deal of social anxiety surrounding women’s engagement in the workforce. Policymakers must take serious action to close loopholes in the rule of law and promote female job creation as a yardstick of social development in light of India’s high rates of internal migration and the influx of the wealthy and middle classes into the country’s cities.