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- Per Capita Income in India To Cross Rs 1 lac Mark
Per Capita Income in India To Cross Rs 1 lac Mark
Mar 21, 2016
In a nation where population crosses a billion mark, per capita income is an important metric to track. If the statistics are anything to go by, we aren't doing that bad. We are likely to touch the threshold of Rs 1 lac per person soon, given the GDP growth assumption and expected growth in population.
The data is heartening. But statistics hardly tell enough in absolute terms. If you compare with other nations, India has a long way to go. This is because on GDP per capita basis, India ranks quite low when compared to economies like USA, China...in fact lower than Indonesia and South Africa (Source: World Bank, 2014).
Further, as an article in Economic Times suggests, it does not reflect the disparity in incomes across different classes. There is a huge gap in the standard of living between urban and rural India that needs to be bridged. Not to mention that these levels do not give even an average urban Indian enough comfort to buy basic need - makaan for himself. As an investor, we would suggest you to be very cautious before arriving at conclusions on macroeconomic picture on the basis of such statistics.
Data source: Mospi, Economictimes.com
This Chart Of The Day was published in The 5 Minute WrapUp - What's on Your Investing Platter?
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