Earning Of Every Indian Increased By 30% In 6 Years; Bihar Beats Every State In Growth
In a positive turn of events, a new report has revealed that every Indian, on an average, is earning about 30% more than what was earned six years ago, in the fiscal year 2014-2015.
Among all the states, Bihar has emerged the winner in terms of the highest per capita growth.
Read on to find out all the details!
Income Of Every Indian Increased By 30%; Bihar Has Highest Per Capita Income
The per capita income in India has come up to Rs 94,954 in FY19, which was about Rs 72,805 in FY15. This has been confirmed by Rao Inderjit Singh, MoS, Ministry of Statistics and Programme Implementation, while replying to a question in Rajya Sabha. The per capita income has risen 17 percent between FY 2010-11 and FY 2014-15.
The income of every Indian has increased by 30 percent that what it was before six years, in the financial year 2014-15. The increased per capita income offers a more disposable income to people which results in an improved standard of living.
Among all the states in the country, the state with the highest per capita income is Bihar. The per capita net state domestic product of the state went up to 9.13 percent in FY20. Following Bihar are Tripura, Tamil Nadu, and Andhra Pradesh with the highest per capita NSDP.
As per the 14th Economic Survey 2019-20, Bihar has an average of more than 10 percent growth and has also recorded a higher growth rate than that of India in the three years to FY20.
Tamil Nadu, Gujarat, Telangana, And Other States Record Rs. 40,000 Loss
Earlier this year, Deputy Chief Minister and State Finance Minister of Bihar Sushil Kumar Modi had revealed that the annual growth rate of operational agro-based factories in Bihar has been 16.4 percent over the last 10 years, whereas that of all of India was only 3.3 percent.
Due to the critical situation created by the outbreak of the Coronavirus pandemic, the per capita loss for all India has been recorded about Rs 27,000. In fact, an SBI research report has revealed that states like Tamil Nadu, Gujarat, Telangana, Delhi, Haryana, Goa, etc. have recorded a loss of more than Rs. 40,000 per person in FY21.
For those who dont know, the per capita income is the measure of the amount of money that was earned per person in a nation or a geographic region. This can be used to determine the average per-person income for a specific area and also to conduct the evaluation of the standard of living and also the quality of life of the population.