Indian Economy: Growth -3

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<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Average Indian's income crosses Rs 3000</b>
pioneer.com
PTI | New Delhi
The monthly income of an average Indian for the first time in the country's history has crossed Rs 3,000, thanks to economic reforms and a high growth rate of above 9 per cent achieved for three years since 2005-06.

The per capita income, a measure of average income of a citizen, went up 12.2 per cent to Rs 37,490 per annum during 2008-09, said the advance estimate for national income released by the Central Statistical Organisation (CSO) on Friday.

During 2007-08, the per capita income was Rs 33,283 per annum.

The CSO data further reveals that the per capita income at constant (1999-2000) prices during the last fiscal rose to Rs 25,494 per annum from Rs 24,295 per annum in the previous year, recording a growth rate of 4.9 per cent.

The per capita income would have been higher but for the global economic crisis, which pulled down the country's economic growth during 2008-09 to 6.7 per cent from 9 per cent in the previous fiscal.

The national income during the year went up to Rs 43.26 lakh crore, showing a rise of 14.2 per cent, while the population of the country increased by 1.6 crore to 115.4 crore.

The CSO data further says that the national income at 1999-2000 prices increased by 6.4 per cent to Rs 29.42 lakh crore during 2008-09.
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No adjustment of inflation in above data.