Overview

• P. Chidambaram notes that per capita income grew 2.64 times under the UPA government compared to 1.89 times under the NDA over similar periods.
• India's per capita income rose from $543 in 2003 to a projected $2,878 in 2024, but real income growth has been modest at 4% annually since 2014.
• Despite becoming the world's fourth-largest economy, India ranks 136th globally in per capita income, according to IMF data.
• Critics, including Chidambaram, argue that per capita income and reductions in inequality are more meaningful indicators of economic well-being than aggregate GDP growth.
• Rising income inequality remains a concern, with the top 10% of Indians owning 60% of the nation's wealth and earning 57% of its income.