1 min read.Updated: 07 Dec 2022, 12:44 AM ISTVivek Kaul
In 2021-22, India’s gross domestic product (GDP) growth was 8
In 2021-22, India’s gross domestic product (GDP) growth was 8.7%. In comparison, the per-capita income growth was 7.6%. So, growth in the average income of an Indian was 110 basis points lower than overall growth in the Indian economy. One basis point is one-hundredth of a percentage point. The reason for this lies in the fact that the country’s population also grows every year and hence any economic growth has to be shared among a greater number of people.