India Per Capita Income: By the financial year 2030, India’s per capita income is expected to increase by 70 percent and at that time the per capita income will be 4 thousand dollars.
India’s per capita income is expected to increase by about 70 percent by 2030. Standard Chartered Bank’s research report states that the current per capita income is $ 2,450 and is expected to increase to $ 4,000 by 2030. The research states that the increase in income will help the country become a middle-income economy with a GDP of $ 6 trillion and half of this will come from domestic consumption.
Record rise in per capita income since 2001
Since 2001, there has been a record increase in per capita income. It was $460 in 2001, which increased to $1,413 in 2011 and $2,150 in 2021. It has been said in the report that the Indian economy will get maximum momentum due to external trade. It is estimated to increase from $ 1.2 trillion in the current financial year to almost double to $ 2.1 trillion by 2030.
Second partner in domestic consumption growth
It has been said in the report that a 10 percent increase in GDP has been estimated. Apart from this, it has been said in the report that the second major contribution to this increase will be from domestic consumption. It is estimated to reach $ 3.4 trillion by 2030, which will be equal to the current size of GDP. In contrast, domestic consumption in FY2023 was $2.1 trillion.
Indian economy will reach 5 trillion dollars
Prime Minister Narendra Modi has said many times that during his next tenure the Indian economy will be included in the top 3 countries of the world and will reach 5 trillion dollars. Currently India is followed by Japan, United States and China.
which state on top
The report states that in terms of per capita income, the state of Telangana is at the top position with Rs 2.75 lakh. After this, Karnataka is on top with Rs 2.65 lakh, Tamil Nadu Rs 2.41 lakh, Kerala Rs 2.30 lakh and Andhra Pradesh Rs 2.07 lakh. At the same time, according to the report, there may be a change in this ranking by the financial year 2030, in which Gujarat may come on top. After this Maharashtra, Tamil Nadu, Karnataka, Haryana, Telangana and Andhra Pradesh are going to live.
