India's per capita income growth may fall 8.3% to Rs 111,782 in FY18: CSO

File photo of an India Rupee note. (Photo: Reuters)
India's per capita income, a gauge for measuring living standard, is likely to witness a slower growth of 8.3 per cent at Rs 111,782 in FY 2017-18.

In 2016-17, per capita income of Indians had grown by 9.7 per cent to to Rs 103,219.

"The per capita net national income during 2017-18 is estimated to be Rs 111,782 showing a rise of 8.3 per cent as compared to Rs 1,03,219 during 2016-17 with the growth rate of 9.7 per cent," said First Advance Estimates of National Income, 2017-18' released by the Central Statistics Office (CSO).

The per capita income in real terms (at 2011-12 prices) during 2017-18 is likely to attain a level of Rs 866.6 billion as compared to Rs 822.69 billion for the year 2016-17, it said.

The growth rate in per capita income (real terms) is estimated at 5.3 per cent during 2017-18, as against 5.7 per cent in the previous year, it added.

The economic growth is expected to slow to a four-year low of 6.5 per cent in 2017-18, the lowest under the Modi-led government, mainly due to poor performance of agriculture and manufacturing sectors.

The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. It was 7.5 per cent in 2014-15.

The Narendra Modi-led NDA government had assumed office in May 2014.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel