Per Capita Income Doubled To Rs 1.97 Lakh Since 2014: Finance Minister

The per capita income in India has more than doubled to Rs 1.97 lakh over the past nine years.

"The government's efforts since 2014 have ensured for all citizens a better quality of living and a life of dignity," Union finance minister Nirmala Sitharaman said in her Budget speech on Wednesday.

In these nine years, the size of the Indian economy has increased from being tenth to the fifth largest in the world.

"We have significantly improved our position as a well-governed and innovative country with a conducive environment for business as reflected in several global indices," she said.

The government on Wednesday presented the annual Budget for 2023-24, the last full Budget of Prime Minister Modi's government..

This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024.

Much was expected by the people and the Budget seemed to have promised to fulfill many of them. The most looked-after number in the Budget document is the capital expenditure.

In her Budget speech, finance minister Nirmala Sitharaman said capital expenditure outlay is being increased steeply for the third year in a row by 33 per cent to Rs 10 lakh crore, which would be 3.3 per cent of GDP.

This will be almost three times the outlay in 2019-20.

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