India’s per capita income, a gauge for measuring living standard, is estimated to cross Rs 1 lakh in 2016-17, up from Rs 93,293 in the previous fiscal. As per the ‘First Advance Estimates of National Income, 2016-17’ released by the Central Statistics Office (CSO), the per capita net national income during 2016-17 is “estimated to be Rs 103,007” at current prices. This is higher by 10.4 per cent compared to Rs 93,293 during 2015-16.
The Central Statistics Office said India’s GDP is expected to slowdown to 7.1 per cent during 2016-17 from 7.6 percent in the previous fiscal mainly due to slump in manufacturing, mining and construction activities.
Source- Financial Express