India’s per capita income has seen a significant jump to Rs 1,14,710 in FY25, with a look at the top-performing states.
India’s Growing Income
India’s per capita income, which is the average income per person, has increased notably over the last decade. According to a report presented in the Lok Sabha by Minister of State for Finance Pankaj Chaudhary, it now stands at Rs 1,14,710 for the financial year 2024-25.
This marks a significant rise of Rs 41,905 from Rs 72,805 recorded in 2014-15. These figures are based on the provisional estimates of Net National Income (NNI) at constant prices, released by the National Statistical Office (NSO).
Why Incomes Vary Across States
While the national average is up, the increase in per capita income isn’t uniform across all states and Union Territories. Minister Chaudhary highlighted that various factors contribute to these differences.
These include varying levels of economic development, the specific industries prominent in a region, structural disparities, and even differences in governance mechanisms. Simply put, how a state’s economy is structured and managed plays a big role in its citizens’ average income.
Government’s Focus on Inclusive Growth
The government has expressed its commitment to inclusive growth, aiming for development that benefits everyone. This approach, often termed “Sabka Saath, Sabka Vikas,” involves various schemes.
These initiatives are designed to reduce poverty and inequality, strengthen social security, create income and livelihood opportunities, and generally improve the quality of life for vulnerable sections of society across the nation.
Top States for Per Capita Income (FY25)
Data for FY2024-25 reveals the states and UTs leading in per capita income. Karnataka tops the list, showcasing its strong economic performance.
Here are the top ten:
- Karnataka: Rs 2,04,605
- Tamil Nadu: Rs 1,96,309
- Haryana: Rs 1,94,285
- Telangana: Rs 1,87,912
- Maharashtra: Rs 1,76,678
- Himachal Pradesh: Rs 1,63,465
- Uttarakhand: Rs 1,58,819
- Puducherry: Rs 1,55,533
- Andhra Pradesh: Rs 1,41,609
- Punjab: Rs 1,35,356
Key Takeaways
- India’s per capita income has risen by over Rs 40,000 in the last decade.
- State-level economic development and governance significantly influence per capita income.
- Southern and northern states are prominent among the top performers.
These figures provide a snapshot of economic progress and highlight the diverse economic landscapes across India’s states and Union Territories.
