02 Jun 2010 | By: Mohamed Hairul Borhan

Indians are earning more compared to last year with per capita income increasing 10.5 per cent to Rs44,345 (S$1327.10*) in 2009-10 as against Rs40,141 the year before. The figure is slightly higher than the Rs 43,749 calculated by the Central Statistical Organisation (CSO) in its advance estimate for 2009-10 in February.

Per capita income at fixed price, which is a better way of comparison and broadly factors in inflation, grew by 5.6 per cent in 2009-10 to hit Rs33,588 in 2009-10 against Rs31,821 in the previous financial year, according to national income data released on last Monday.

At market price, the size of the economy rose to Rs62,31,171 crore in 2009-10, up 11.8 per cent from Rs55,74,449 crore in 2009-09. At 2004-05 prices, India’s GDP stood at Rs44,64,081 crore in 2009-10 as against Rs 41,54,973 crore in 2008-09.

*Exchange rate correct as of 02 June 2010

Courtesy of IBEF