India per capita income spike 10 percent, nears $1000
While the world struggles at low single digit growth and most American families have flat incomes, the news from India appear far more rosy.
Per capita income grew by 10.5 per cent to Rs 44,345 in the year ended March 31, 2010 compared with Rs 40,141 in the year-ago period, according to India’s Central Statistical Organization (CSO).
Per capita income grew by 10.5 per cent to Rs 44,345 in FY 20110 against Rs 40,141 in the year-ago period. Income grew by 5.6 per cent in the last fiscal year if it is calculated on the basis of 2004-05 prices, which is a better way of comparison and broadly factors inflation.
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. He is author of Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market (Hachette Book Group, July 2008).
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