On average, every Indian is earning 30 per cent more now than what he or she earned six years ago, which is in the fiscal year 2014-15. Per capita income in India rose from Rs 72,805 in FY15 to Rs 94,954 in FY19, Rao Inderjit Singh, MoS, Ministry of Statistics and Programme Implementation, said in a reply to a question in Rajya Sabha today. Between FY 2010-11 and FY 2014-15, the per capita income rose 17 per cent. Increased per capita income gives more disposable income in the hands of people, which eventually raises the standard of living.
On the other hand, Bihar has registered the highest per capita growth among all the states. The per capita net state domestic product in Bihar rose at 9.13 per cent in FY20. Tripura, Tamil Nadu, and Andhra Pradesh follow Bihar in the list of states with the highest per capita NSDP. With an average of over 10 per cent growth, Bihar has registered higher growth than the growth rate of India in the three years to FY20, showed the 14th Economic Survey 2019-20. The annual growth rate of operational agro-based factories in Bihar was 16.4 per cent over the last 10 years, compared to only 3.3 per cent at the all India level, Deputy Chief Minister and State Finance Minister of Bihar Sushil Kumar Modi had said earlier this year.
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Meanwhile, per capita income is a measure of the amount of money earned per person in a nation or geographic region, which can be used to determine the average per-person income for an area and to evaluate the standard of living and quality of life of the population. However, the rising inflation and cost of living index level off the extra disposable income during the period. AMid the ongoing crisis induced by the coronavirus pandemic, the per capita loss for all India is around Rs 27,000 with states like Tamil Nadu, Gujarat, Telangana, Delhi, Haryana, Goa, etc, exhibiting loss of more than Rs 40,000 per person in FY21, said the SBI research report released in the month of August.