An Indian on an average earned Rs 53,331 during 2010-11 or Rs 4,444.25 a month, a latest government data reveals. This is the first time India’s per capita income has crossed the Rs 50,000-mark.
The figure, however, has been revised marginally downwards from Rs 54,835 that was released in May. Per capita income is calculated by evenly dividing the national income among the country’s population.
Per capita income in India has nearly doubled from Rs 2,728.16 in 2004-05 and 2010-11 to touch Rs 53,331 in 2010-11. The government has also revised India’s GDP growth for 2010-11 to 8.4% from 8.5% earlier.
The figure gives an idea of the standard of living of the people, although much of the growth in income may have been driven by the richest Indians.
In 2011, according to Forbes, there were 57 dollar billionaires in India. The 100 richest in India had a combined networth of $241 billion or Rs 12,06375 crore, representing 16% of the India’s GDP that stood at Rs 71,57,412 crore last financial year.
The Indian economy is expected to grow to $2 trillion in 2011-12 joining the elite league of the US, Japan, Germany among others.