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Prior to India's Independence, from the period of 1900 to 1947, per capita income in India had either declined or stagnated.Post-Independence, Jawaharal Nehru demonstrated his willingness to compromise socialism for the perceived benefit of the country to provide financial incentives for the expansion of private enterprise.
The economy of India is a developing mixed economy with a notable public sector in strategic sectors. [5] It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP); on a per capita income basis, India ranked 141th by GDP (nominal) and 125th by GDP (PPP). [63]
This is an alphabetical list of countries by past and projected Gross Domestic Product per capita, based on the Purchasing Power Parity (PPP) methodology, not on official exchange rates. Values are given in International Dollars .
In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. India's per-capita income remained mostly stagnant during the Raj, with most of its GDP growth coming from an expanding population. Per capita income growth from 1850 to 1900 is estimated to range from 0.75% to 1.25% annually.
Goa had the highest per capita PPP GDP at US$14,903, while Bihar the lowest with per capita PPP GDP of US$682 as of 2015 [12] In rupee terms, India's per capita income grew by 10.4% to reach Rs.74,920 in 2013–14. While India's per capita incomes were low, the average household size and consequent household incomes were higher.
Download as PDF; Printable version; ... NSDP per capita of Indian states and union territories, 2018–19 ... 2019–20 2020–21 1 Goa: 76,968 149,164 168,024
But the authors of the World Inequality Lab study reached this conclusion by tracking how much of India’s total income, as well as wealth, is held by the country’s top 1%. ... period from the ...
Under the Seventh Five-Year Plan, India strove to bring about a self-sustained economy in the country with valuable contributions from voluntary agencies and the general populace. The target growth rate was 5.0% and the actual growth rate was 6.01%. [12] and the growth rate of per capita income was 3.7%.