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.
Based on 2004-05 prices, the Indian economy is projected to expand by 4.9 per cent in the 2013-14 fiscal year. This is higher than 4.5 per cent growth in 2012-13. (Read more)
The country's population is expected to increase to 123 crore by the end of March 2014, from 121.7 crore in March 2013.
