India’s FY17 per capita income seen rising over 10% to Rs103,818
01 Mar 2017
India's per capita net national income is expected to rise 10.2 per cent to Rs103,818 in the current fiscal from Rs94,178 per capita during 2015-16.
''The per capita net national income during 2016-17 is estimated to be Rs103,818 showing a rise of 10.2 per cent as compared to Rs94,178 during 2015-16 with the growth rate of 8.9 per cent,'' as per the second advance estimates of national income for 2016-17.
In real terms, the per capita income (at 2011-12 prices) during the current fiscal is likely to attain a level of Rs82,112, compared with Rs77,524 in 2015-16.
''The growth rate in per capita income is estimated at 5.9 per cent during 2016-17, as against 6.6 per cent in the previous year,'' as per estimates of the Central Statistics Office (CSO).
The country's gross national income (GNI) at 2011-12 prices is estimated at Rs12,028,000 crore for 2016-17, up 7.2 per cent from Rs11,222,000 crore estimated for 2015-16.
Gross national product (GDP) at current prices in the year 2016-17 is likely to attain a level of Rs15,251,000 crore, as against Rs13,675,000 crore in 2015-16, showing a growth rate of 11.5 per cent.
The nominal Net National Income (NNI), also known as national income (at current prices) is likely to be Rs13,486,000 crore during 2016-17, against Rs12,083,000 crore for the year 2015-16.
In terms of growth rates, national income recorded a growth rate of 11.6 per cent in 2016-17 against the previous year's growth rate of 10.2 per cent.
India's GDP is estimated to have grown at 7 per cent in Q3 of 2016-17 while full year growth is seen at the earlier estimate of 7.1 per cent, belying fears that the government's note ban would have severely impacted economic activity.
