India's per capita income is projected to soar 10.4 per cent to Rs 74,920 in 2013-14 as the country becomes a $1.7-trillion (around Rs 105 lakh crore) economy.
Per capita income is calculated by evenly dividing a country's national income by its population.
However, the increase in per capita income would be only 2.8 per cent in 2013-14 if it is calculated on the basis of 2004-05 prices.
Per capita income (at 2004-05 prices) would be Rs 39,961 in 2013-14, against Rs 38,856 in the previous fiscal year, according to the latest data on national income.
The country's population is expected to increase to 123 crore by the end of March 2014, from 121.7 crore in March 2013.