By IANS,
New Delhi : India’s per capita income grew by 15.6 percent to Rs.53,331 in 2010-11 as compared to Rs.46,117 in the previous year on the back of 8.4 percent economic growth and partly also because of high inflation, official data showed Tuesday.
The country’s per capita income has crossed Rs.50,000-mark for the first time.
“The per capita income at current prices is estimated at Rs.53,331 in 2010-11 as against Rs.46,117 for the previous year depicting a growth of 15.6 percent,” according to provisional data released by the ministry of statistics and programme implementation here.
However, in real terms based on 2004-05 prices, the per capita income grew by a slower 6.4 percent to Rs.35,993 in 2010-11 as compared to Rs.33,843 in the previous year.
The growth in per capita income is led by 8.4 percent expansion in the economy.
The Gross Domestic Product (GDP) at factor cost at constant (2004-05) prices in 2010-11 is estimated at Rs.48,85,954 crore, which is 8.4 percent more than the previous year’s Rs.45,07,637 crore.
Gross domestic saving of India, which has over 1.2 billion population, increased by 32.3 percent to Rs.24,81,931 crore in 2010-11 as compared to Rs.21,82,970 crore in the previous year.
The domestic saving had increased by 33.8 percent in 2009-10.
The gross domestic capital formation, an indicator of increase in physical assets, rose to Rs.26,92,031 crore in 2010-11 at current prices as compared to Rs.23,63,670 crore in the previous year.
At constant 2004-05 prices, the gross domestic capital formation increased to Rs.19,74,172 crore in 2010-11 as compared to Rs.18,38,870 crore in the previous year.
The rate of gross capital formation at constant (2004-05) prices was 37.7 percent in 2010-11 as against 38.5 percent in 2009-10.