According to National Statistical Office (NSO), the estimated annual per capita (net national income) at current prices for 2022-23 is Rs 1,72,000, showing a growth of around 99 per cent from Rs 86,647 in 2014-15.

However, after adjusting for inflation (constant prices), the per capita income has risen by approximately 35 per cent from Rs 72,805 in 2014-15 to Rs 98,118 in 2022-23.

"You are looking at GDP in current prices, but if you account for inflation, the increase is much less," Development economist Jayati Ghosh was quoted as saying.

* She further said distribution is critical.

* "Most of this increase has accrued to the top 10 per cent of the population. By contrast, median wages are falling, and possibly even lower in real terms," said the former JNU professor.

* According to the NSO, the per capita income in both real and nominal terms experienced a decline during the Covid period. Nonetheless, it has shown an improvement in the fiscal years 2021-22 and 2022-23.

* Pinaki Chakraborty, the former director of the esteemed economic research institute NIPFP, cited the World Development Indicator database and stated that India's per-capita income had an average growth rate of 5.6 per cent per annum in real terms during the period from 2014 to 2019.

* "This growth is significant. We have seen improvements in outcome related to health, education, and economic and social mobility. Covid impacted us badly. However, we have seen significant economic recovery after Covid. Sustaining per-capita income growth at 5 to 6 per cent per annum with appropriate redistributive policies will help sustain this momentum..

Source : India Today