Per capita GDP declined in 2020-’21 due to Covid-19 restrictions, Centre tells Lok Sabha
However, the figure increased sharply in 2021-’22 due to ‘proactive measures taken by the government’, the finance ministry said.
India’s per capita gross domestic product declined in 2020-’21 compared to the previous year due to coronavirus-induced restrictions, the Union finance ministry told the Lok Sabha on Monday.
However, the per capita gross domestic product increased sharply in 2021-’22 due to “proactive measures taken by the government”, the ministry said.
Union Minister of State for Finance Pankaj Chaudhury made the statement in Parliament in response to a question asked by Janata Dal (United) MPs Rajiv Ranjan Singh and Kaushalendra Kumar. The MPs had asked the minister to state whether there had been a 10-20% decline in India’s per capita income compared to the last three years.
Chaudhury also told the Lok Sabha that a monthly salary is among the top 10% of total incomes earned in the country. “The share of the top 1% of the population accounts for 6-7% of the total incomes earned, while the top 10% accounts for one-third of all incomes earned,” he said.
The data was based on “The State of Inequality in India” report by the Institute for Competitiveness think tank . The report extrapolated income data from the Periodic Labour Force Survey for 2019-2020.