India’s per capita net national income or NNI was around 170 thousand rupees in financial year 2023.The annual growth rate was 13.7 percent as compared to the previous year.
National income indicators
While GNI (Gross National Income) and NNI are both indicators for a country’s economic performance and welfare, the GNI is related to the GDP plus the net receipts from abroad, including wages and salaries, property income, net taxes and subsidies receivable from abroad. On the other hand, the NNI of a country is equal to its GNI net of depreciation. In 2020, India ranked second amongst the Asia Pacific countries in terms of its gross national income. This has been possible due to a favorable GDP growth in India.
Measuring wealth versus welfare
National income per person or per capita is often used as an indicator of people's standard of living and welfare. However, critics object to this by citing that since it is a mean value, it does not reflect the real income distribution. In other words, a small wealthy class of people in the country can skew the per capita income substantially, even though the average population has no change in income. This is exemplified by the fact that in India, the top one percent of people, control over 40 percent of the country’s wealth.
Per capita national income across India from financial year 2015 to 2018, with estimates until 2023
(in 1,000 Indian rupees)
Characteristic
Income in thousand Indian rupees
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*Third revised estimate.
**Second revised estimate.
***First revised estimate.
****Provisional estimate.
*****First advanced estimate.
India's financial year begins in April and ends in March. For example, FY 2022 started in April 2021 and ended in March 2022.
One Indian rupee is equal to 0.011 euros and 0.012 dollars (as of March 2023).
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Department of Economic Affairs (India), & Union Budget (India). (January 31, 2023). Per capita national income across India from financial year 2015 to 2018, with estimates until 2023 (in 1,000 Indian rupees) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/802122/india-net-national-income-per-capita/
Department of Economic Affairs (India), und Union Budget (India). "Per capita national income across India from financial year 2015 to 2018, with estimates until 2023 (in 1,000 Indian rupees)." Chart. January 31, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/802122/india-net-national-income-per-capita/
Department of Economic Affairs (India), Union Budget (India). (2023). Per capita national income across India from financial year 2015 to 2018, with estimates until 2023 (in 1,000 Indian rupees). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/802122/india-net-national-income-per-capita/
Department of Economic Affairs (India), and Union Budget (India). "Per Capita National Income across India from Financial Year 2015 to 2018, with Estimates until 2023 (in 1,000 Indian Rupees)." Statista, Statista Inc., 31 Jan 2023, https://www.statista.com/statistics/802122/india-net-national-income-per-capita/
Department of Economic Affairs (India) & Union Budget (India), Per capita national income across India from financial year 2015 to 2018, with estimates until 2023 (in 1,000 Indian rupees) Statista, https://www.statista.com/statistics/802122/india-net-national-income-per-capita/ (last visited July 22, 2024)
Per capita national income across India from financial year 2015 to 2018, with estimates until 2023 (in 1,000 Indian rupees) [Graph], Department of Economic Affairs (India), & Union Budget (India), January 31, 2023. [Online]. Available: https://www.statista.com/statistics/802122/india-net-national-income-per-capita/