India’s per capita income surged 41% to ₹2,11,725 in 2023-24, with Sikkim topping the charts at ₹7,07,181. Odisha ranks 15th below the national average.
Bhubaneswar, Odisha : India has witnessed a significant surge in per capita income, which grew by 41% in 2023-24 compared to 2019-20, reaching ₹2,11,725, according to data from the Ministry of Finance. This upward trajectory has also influenced the economic performance of individual states, with several regions reporting notable improvements. However, the disparity between states remains stark, with Sikkim emerging as the leader and Bihar languishing at the bottom.
Sikkim Tops with Record-Breaking Numbers
Sikkim, a small Himalayan state, has outperformed all others with a staggering per capita income of ₹7,07,181. This figure is nearly double the national average and highlights the state's robust economic growth. The runner-up, Telangana, reported a per capita income of ₹3,93,385 — almost half of Sikkim’s figure.
Karnataka secured the third position with ₹3,68,085, followed by Haryana at ₹3,61,993 and Tamil Nadu at ₹3,53,483. These states demonstrate consistent economic advancements, backed by diversified industries and stable governance.
Odisha Lags Behind National Average
Odisha, despite its rich natural resources and industrial potential, ranks 15th with a per capita income of ₹1,83,767. This is significantly below the national average, raising concerns over income inequality and regional development. Other states with below-average income include Assam, Tripura, Rajasthan, West Bengal, Chhattisgarh, Madhya Pradesh, and Meghalaya.
Bihar remains at the bottom of the list with a dismal per capita income of ₹66,828, underscoring the challenges of underdevelopment and poverty in the state.
National and Global Comparisons
On the global stage, India’s per capita income still lags significantly. As per the International Monetary Fund (IMF) estimates, India ranks 142nd globally in nominal terms. However, in terms of purchasing power parity, the ranking improves slightly to 125th.
Finance Minister Nirmala Sitharaman highlighted the rapid acceleration in income growth last October, stating that while it took 75 years for India to reach a per capita income of $2,370, an additional $2,000 was added in just five years. She expressed optimism that India’s per capita income could double within the next five years, given the current pace of economic reforms and growth.
Top 10 States in Per Capita Income
The top-performing states in per capita income include:
1. Sikkim: ₹7,07,181
2. Telangana: ₹3,93,385
3. Karnataka: ₹3,68,085
4. Haryana: ₹3,61,993
5. Tamil Nadu: ₹3,53,483
6. Maharashtra: ₹3,18,560
7. Kerala: ₹3,17,723
8. Uttarakhand: ₹2,95,791
9. Himachal Pradesh: ₹2,76,943
10. Andhra Pradesh: ₹2,70,295
India’s Income Growth : A Double-Edged Sword
While the data showcases impressive growth, it also highlights sharp inequalities between states. Only 11 states boast incomes above the national average, while a majority struggle to keep pace. Experts stress the need for targeted interventions to address the disparities, particularly in states like Bihar, Odisha, and Madhya Pradesh.
As India moves forward, bridging these gaps will be crucial to achieving inclusive and sustainable economic growth. The government’s optimism about doubling per capita income within five years will depend on addressing structural challenges and fostering equitable development across all regions.
Key Takeaway:
India’s growing per capita income reflects its economic progress, but regional disparities and global competitiveness remain critical challenges.
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