India’s per capita income to grow 17.3% at Rs54,527 in FY’11

New Delhi: India’s per capita income is projected to grow by 17.3% to Rs54,527 in 2010-11 from Rs46,492 in the year-ago period, according to the official data released on Monday.

Per capita income is calculated by evenly dividing the national income among the country’s population.

However, the increase in per capita income would be only 6.7% in 2010-11 if it is calculated on the basis of 2004-05 prices.

Per capita income (at 2004-05 prices) stood at Rs36,003 in FY 2011 against ₹ 33,731 in the previous fiscal, according to the latest data on national income.

The size of the economy at current prices is projected to rise to Rs72,56,571 crore at the end of the current fiscal, up 18.3% from Rs61,33,230 crore in FY 2010.

Based on 2004-05 prices, the Indian economy is projected to expand by 8.6% in the current fiscal ending March 2011. This is higher than 8% growth in fiscal 2009-10.

The country’s population is expected to increase to 118.6 crore at the end of March 2011, from 117 crore in fiscal 2009-10.