India's per capita income rises 7.4% to Rs 93,293

[TopCat]

NEW DELHI: India's per capital incomerose by 7.4 per cent to Rs 93,293 in 2015-16, compared to Rs 86,879 in the preceding fiscal, government data showed today.

"The per capita income at current prices during 2015-16 is estimated to have attained a level of Rs 93,293 as compared to the First Revised Estimate for the year 2014-15 of Rs 86,879 showing a rise of 7.4 per cent," as per data on Provisional Estimates of Annual National Income and Quarterly Estimates of Gross Domestic Product 2015-16.

The data was released by the Ministry of Statistics and Programme Implementation.

Per capita income is a broad indicator of prosperity.

In real terms, the per capita income (at 2011-12 prices) during 2015-16 is estimated to have attained a level of Rs 77,435, up 6.2 per cent from Rs 72,889 for the year 2014-15.

The Gross National Income (GNI) at 2011-12 prices is now estimated at Rs 112.13 trillion as against Rs 112.14 trillion estimated earlier for 2015-16.

In 2014-15, it was Rs 104.28 trillion.

"In terms of growth rates, the gross national income is estimated to have risen by 7.5 per cent during 2015-16, in comparison to the growth rate of 7.3 per cent in 2014-15."

http://economictimes.indiatimes.com...ises-7-4-to-rs-93293/articleshow/52524152.cms

 

[TopCat]

With May 2016 average USD/INR was 67 which makes the per capita GDP $1392

@UKBengali @Nilgiri @bluesky @fallstuff @damiendehorn @Species @Doyalbaba @Mohammed Khaled @gslv @Nair saab @nair @kobiraaz @Bilal9 @Joe Shearer
@extra terrestrial

 

[Nilgiri]

With May 2015 average USD/INR was 64 which makes the per capita GDP $1457

@UKBengali @Nilgiri @bluesky @fallstuff

India hit 1400 - 1500 GDP per capita nominal 5 years ago, the figure now is around 1750 USD:

http://www.imf.org/external/pubs/ft...rt=country&ds=.&br=1&c=534&s=NGDPDPC&grp=0&a=

These figures from MOSPI are calculated somewhat differently (i.e real terms accounting for inflation along with different investment accounting) so you can't use current exchange rate directly.

GDP and GNI there is a difference between the two.

 

[TopCat]

India hit 1400 - 1500 GDP per capita nominal 5 years ago, the figure now is around 1750 USD:

http://www.imf.org/external/pubs/ft...rt=country&ds=.&br=1&c=534&s=NGDPDPC&grp=0&a=

These figures from MOSPI are released in earlier base year rupee (i.e real terms accounting for inflation) so you can't use current exchange rate directly.

Sure I made a mistake.
It should be May 2016 exchange rate instead of May/2015. The exchange rate was 67/USD which makes the figure $1392

Besides it did not talk about 5 years old data but 2015-16 fiscal data

"The per capita income at current prices during 2015-16 is estimated to have attained a level of Rs 93,293 as compared to the First Revised Estimate for the year 2014-15 of Rs 86,879 showing a rise of 7.4 per cent,"

Source: https://defence.pk/threads/indias-per-capita-income-rises-7-4-to-rs-93-293.454395/#ixzz4MTjs71r9

 

[Nilgiri]

Sure I made a mistake.
It should be May 2016 exchange rate instead of May/2015. The exchange rate was 67/USD which makes the figure $1392

Besides it did not talk about 5 years old data but 2015-16 fiscal data

You seem to not understand that GNI is not GDP.

Did you even look at the IMF numbers for nominal GDP per capita?...and compare these to MOSPI GNI per capita data?

 

[TopCat]

You seem to not understand that GNI is not GDP.

Did you even look at the IMF numbers for nominal GDP per capita?...and compare these to MOSPI GNI per capita data?

So you guys had been talking about GNI all along instead of GDP/capita? Next time I will make sure that we know what you are talking about so that we all are in the same page..

You seem to not understand that GNI is not GDP.

Did you even look at the IMF numbers for nominal GDP per capita?...and compare these to MOSPI GNI per capita data?

I dont go to external source when I have the most authentic source from authorities. IMF is not reliable.
I only refer to IMF/WB when I dont have the authentic source.

 

[Nilgiri]

So you guys had been talking about GNI all along instead of GDP/capita? Next time I will make sure that we know what you are talking about so that we all are in the same page..

GDP per capita (nominal or PPP) is generally used for international comparisons given it has the closest accepted accounting standards internationally.

There is more leeway with GNI. For example look at the difference between MOSPI GNI and World Bank GNI per capita (nominal).

http://data.worldbank.org/indicator/NY.GNP.PCAP.CD?locations=IN-BD

I dont go to external source when I have the most authentic source from authorities. IMF is not reliable.
I only refer to IMF/WB when I dont have the authentic source.

Well then you have to read up on the different accounting standards used by different countries....rather than directly applying an exchange rate and trying to pass it off as something that can be compared apples to apples with anyone else.

World Bank and IMF standardise them quite well so comparisons can be made. With GDP, the definition and accounting is quite simplified in the first place unlike GNI.

 

[TopCat]

GDP per capita (nominal or PPP) is generally used for international comparisons given it has the closest accepted accounting standards internationally.

There is more leeway with GNI. For example look at the difference between MOSPI GNI and World Bank GNI per capita (nominal).

http://data.worldbank.org/indicator/NY.GNP.PCAP.CD?locations=IN-BD

LOL

Well then you have to read up on the different accounting standards used by different countries....rather than directly applying an exchange rate and trying to pass it off as something that can be compared apples to apples with anyone else.

World Bank and IMF standardise them quite well so comparisons can be made. With GDP, the definition and accounting is quite simplified in the first place unlike GNI.

double LOL

 

[rishav]

okay okay indias gdp per capita is not even $100 and bangladesh is over 10 times more rich than india ...are you happy now ??

 

[TopCat]

okay okay indias gdp per capita is not even $100 and bangladesh is over 10 times more rich than india ...are you happy now ??

I just came across this data and wanted to share for information purpose only, as most data shared across are grossly over exaggerated like 1800 USD etc.

 

[SBUS-CXK]

Such a large population - 1.2 billion, to achieve the level of medium income. India has done very well.

 

[Species]

India hit 1400 - 1500 GDP per capita nominal 5 years ago, the figure now is around 1750 USD:

http://www.imf.org/external/pubs/ft...rt=country&ds=.&br=1&c=534&s=NGDPDPC&grp=0&a=

These figures from MOSPI are calculated somewhat differently (i.e real terms accounting for inflation along with different investment accounting) so you can't use current exchange rate directly.

GDP and GNI there is a difference between the two.

IMF says figures are estimated.

 

[rishav]

Such a large population - 1.2 billion, to achieve the level of medium income. India has done very well.

but still there is a lot of income inequality and we have a lot to learn from you guys

 

[Acknowledge]

With May 2016 average USD/INR was 67 which makes the per capita GDP $1392

@UKBengali @Nilgiri @bluesky @fallstuff @damiendehorn @Species @Doyalbaba @Mohammed Khaled @gslv @Nair saab @nair @kobiraaz @Bilal9

You seem to be a decent poster and not a troll.

So I will just say that GDP per capita income in dollars is not calculated the way you have. You can refer to absolutely any international developmental agency's stats to understand why it is so.

 

[TopCat]

You seem to be a decent poster and not a troll.

So I will just say that GDP per capita income in dollars is not calculated the way you have. You can refer to absolutely any international developmental agency's stats to understand why it is so.

We can divide it by best possible value 64rp/usd may/2015 or worst possible value 67rp/usd may/2016. You tell me which one i should use. In bd as well as pk they divide it with current exchange rate to get the gdp in us dollar equivalence. Why would india use a different method. It would be helpfull if you help us with conversion ratio that you suggest.