"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 has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.