Indian Economy / Macro Economic Aggregates
Standard of Living in India
Per Capita Income (PCI) estimates the standard of living of the people residing in India. PCI at current prices is the most relevant parameter to study
the standard of living. India's PCI is at Rs. 112,835 during the fiscal year that is ending in March 2018.
- PCI at constant prices during a particular year = Net National Product (NNP) at constant prices during that particular year / Projected mid year
population (estimated as on 1st October)
PCI at current prices during a particular year = NNP at current prices during that year / Projected mid year population (estimated as on 1st October)
- The standard of living in India exhibits a huge disparity and varies from one state to another state. We can see widespread poverty in rural India, where
the basic amenities like medical care are least available or unavailable, whereas top cities have world class medical facilities.
- According to World Bank figures, a third of the total global poor people reside in India.
- Despite the Indian economy is steady in its growth path over the last few decades, the growth is not even in nature when different geographical areas,
social groups and urban & rural areas are compared. The gap between the rich and the poor is increasing day by day.