Thread: First time in history, average Indian's income crosses Rs 3000

First time in history, average Indian's income crosses Rs 3000

The monthly income of an average Indian for the first time in the country's history has crossed Rs 3,000, thanks to economic reforms and a high growth rate of above 9% achieved for three years since 2005-06.

The per capita income, a measure of average income of a citizen, went up 12.2% to Rs 37,490 per annum during 2008-09, said the advance estimate for national income released by the Central Statistical Organisation (CSO) on Friday.

During 2007-08, the per capita income was Rs 33,283 per annum.

The CSO data further reveals that the per capita income at constant (1999-2000) prices during the last fiscal rose to Rs 25,494 per annum from Rs 24,295 per annum in the previous year, recording a growth rate of 4.9 per cent.

The per capita income would have been higher but for the global economic crisis, which pulled down the country's economic growth during 2008-09 to 6.7 per cent from 9 per cent in the previous fiscal.

The national income during the year went up to Rs 43.26 lakh crore, showing a rise of 14.2%, while the population of the country increased by 1.6 crore to 115.4 crore.

The CSO data further says that the national income at 1999-2000 prices increased by 6.4% to Rs 29.42 lakh crore during 2008-09.

Source: Timesofindia.

Thats a nice thing, but i think 3000 is still below the poverty line correct ?

As per the Government of India, poverty line for the urban areas is Rs. 296 per month and for rural areas Rs. 276 per month, i.e. people in India who earn less than Rs. 10 per day. As per Government of India, this amount will buy food equivalent to 2200 calories per day, medically enough, to prevent death.

It only appears to be good news. This averaging business is dangerous. If Mr.Ambani has 5000 crores and I, 5 lakhs our average is around 2500 crores ! It does not mean that I have 2500 crores. In some other paper I read that 77 % of Indians have less than Rs.20 per day to spend. That means, they can't have even ONE good meal-a-day ! It only means that those that were rich got richer thus contributing to the average !

pshrinivasan is correct. This per capita business in a country like India is quite skewed. The rich-poor divide is too great.

statistics is a great lie.
if your hight is 6 feet and you loose your head, statistically your loss is only 10% (7 inches), but in reality you are dead.

Originally Posted by panchabhut

statistics is a great lie.
if your hight is 6 feet and you loose your head, statistically your loss is only 10% (7 inches), but in reality you are dead.

Well said panchabhut.

These statictics are very misguiding.

Well said pshrinivasan, Repo+++