India’s per capita net national income or NNI was around 184 thousand rupees in financial year 2024. The annual growth rate was 8.7 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 2022, with estimates until 2024
(in 1,000 Indian rupees)
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Department of Economic Affairs (India), & Union Budget (India). (July 22, 2024). Per capita national income across India from financial year 2015 to 2022, with estimates until 2024 (in 1,000 Indian rupees) [Graph]. In Statista. Retrieved October 31, 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 2022, with estimates until 2024 (in 1,000 Indian rupees)." Chart. July 22, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/802122/india-net-national-income-per-capita/
Department of Economic Affairs (India), Union Budget (India). (2024). Per capita national income across India from financial year 2015 to 2022, with estimates until 2024 (in 1,000 Indian rupees). Statista. Statista Inc.. Accessed: October 31, 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 2022, with Estimates until 2024 (in 1,000 Indian Rupees)." Statista, Statista Inc., 22 Jul 2024, 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 2022, with estimates until 2024 (in 1,000 Indian rupees) Statista, https://www.statista.com/statistics/802122/india-net-national-income-per-capita/ (last visited October 31, 2024)
Per capita national income across India from financial year 2015 to 2022, with estimates until 2024 (in 1,000 Indian rupees) [Graph], Department of Economic Affairs (India), & Union Budget (India), July 22, 2024. [Online]. Available: https://www.statista.com/statistics/802122/india-net-national-income-per-capita/