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# What is per capita income of india 2022?- formula, Meaning, definition

## What is per capita income of India 2022?

What is per capita income is Per capita Income or PCI is the average income earned by every individual in a certain time period of a given area (say, a country, state, city, or others).It can be calculated by dividing the total income of a specific area by the total population of that area.
In order to assess a population’s standard of living, per capita income, is used to calculate the average per-person income.The limits of per capita income as a measure include its inability to take inflation, income, inequality, poverty, wealth, or savings into account.In this article we are going to learn about what is per capita income, the per capita income formula, its limitations, and so on. Let’s Start Checking What is per capita income of India 2022.

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## What is per capita income?- Meaning & definition

Determination of per capita income is crucial for any nation’s Economy. The average per-person income for a region can be calculated using per capita income, which can also be used to assess the population’s standard of living and quality of life. By dividing a nation’s national income by its population, one can calculate the per capita income of that nation.
The Latin word, “Per Capita” stands for  “by head.” Per Capita income determines the typical annual income per person in a specific area (city, region, country, etc.).The amount is determined by dividing the overall income of a given geographical area by its population.

## What is Per Capita Income Formula

Per Capita Income formula: Any country’s per capita income is determined by dividing its national income by its population. In a nation, a state, or a particular area, PCI or per capita Income defines the average income of an individual person in a specific time period in a specific geographical area such as , a state, a country, etc) This enables us to assess the living conditions and overall standard of living of a specific geographical area.
The Per Capita Income  formula is
Per capita income or PCI = Total income earned by Population / Population of a specific area

## Per Capita Income is Used for

Every person is considered for determining a nation’s Per Capita Income. While calculating the per capita income of a country, the males, women, kids, and infants take into account the population of the entire nation or a particular geographic area. Per capita income can be used to determine the average per-person income for a region and to evaluate the level of living and quality of life of the populace. Numerous areas of statistics and economics use Per Capita Income calculations.

### Gross Domestic Product Per Capita

The monetary value of a nation’s goods and services during a specific time period, often one year, is used to determine a country’s GDP or gross domestic product.GDP serves as an economic activity indicator.

The GDP per capita of a nation is calculated by dividing a nation’s economic production by its population, You must divide the population of a country by its entire domestic economic production. GDP per capita is calculated using the following formula:

GDP Per Capita = Gross Domestic Product/ Population

### Gross National Income Per Capita

Before learning about GNI per capita, it’s essential to understand what gross national income is. The definition of gross national income (GNI) is gross domestic product + net foreign receipts from employee remuneration, property income, and net taxes fewer production subsidies.

The Gross Domestic Product per Capita and the value produced by citizens of a country who reside abroad must be considered in order to calculate the Gross National Income per Capita. GNI per capita is calculated by dividing a country’s GNI by its overall population.

### Per Capita Income use in Business

When deciding whether to open a store in a town or area, businesses might also take the per capita income into account. The affordability of a place can also be determined by looking at per capita income. In comparison to a town with a low per capita income, a company may have a better chance of making money from the sale of its goods in a town where the population has a higher per capita income.

## Limitations of per capita income

Along with the various uses of Per capita income, there are some limitations of Per capita income. Those are –

### Inflation

While determining the per capita income we do not calculate the inflation rate (the rate of price rise) into the account. Consumers’ purchasing power is reduced by inflation, which also restricts income growth. Because of this, per capita income can exceed a population’s income.

### Children

The calculations of per capita Income include those non-earning Individuals such as children and even newborns. The newborns or children are counted although they do not generate any revenue, As result, they don’t increase the average income of the nation. Therefore, while calculating the Average income of a country’s economy having a large child population in the per capita income or PCI parameter, the outcome is biased and inadequate.

### Economic Welfare

A country’s standard of living can be determined using the per capita income. But factors like the standard of the workplace, the standard of working conditions, the number of hours worked literacy rates, and overall health benefits are not always considered in the calculation of Per capita income. If the rate of population increase outpaces the rate of national income growth, economic welfare, and the availability of goods and services then the per capita income will decline.

### Poverty

As per capita income is determined by dividing total income by the population of that area. So it is the Overall idea of a specific geographical area, not actual numbers. Despite the increase in national revenue, its distribution makes the wealthiest further richer and the poor even poorer.

### Savings and Wealth

A person’s savings or wealth are not included in the per capita income calculation. If a wealthy individual may not work and have a minimal annual income, they still use their money to maintain a satisfactory level of living. The wealthy person would appear to be a low earner using the per capita income statistic.

### Livings Standards

The per capita income doesn’t accurately reflect the standard of living for individuals residing in the specific area. We can’t say  Per capita income is a reliable indicator to signify of the standard of living as Per Capita Income is obtained by dividing the Total Income of the population by its population. As result, economic inequality may not be taken into account by per capita income.

There are benefits and drawbacks to per capita income. Gross Domestic Product and Gross National Income Per Capita are computed. But it is unable to take into account things like inflation, poverty, savings, and economic welfare.

With a gross domestic product (GDP) of over $3.17 trillion, India is the sixth largest country in the world, according to the World Bank. The per capita income of India(PCI) has increased more than 500 times since 1950. Its price was Rs. 265 in 1950. In 2020–21, it rose to Rs 1,28,829. The Economic Survey 2020-21 revealed that the PCI has increased seven times since the turn of the millennium, in 2000-01, when it was Rs 18,667. ## What is Per Capita Income of India- Statewise ## What is Per Capita Income by country? Ranking Country GDP per Capita 2022 Population 1 Luxembourg$118,001 647,599
2 Singapore $97,057 5,975,689 3 Ireland$94,392 5,023,109
4 Qatar $93,508 2,695,122 5 Switzerland$72,874 8,740,472
6 Norway $65,800 5,434,319 7 United States$63,416 338,289,857
8 Brunei $62,371 449,002 9 Hong Kong$59,520 7,488,865
10 Denmark $58,932 5,882,261 11 United Arab Emirates$58,753 9,441,129
12 San Marino $58,427 33,660 13 Netherlands$57,534 17,564,014
14 Macau $56,078 695,168 16 Taiwan$55,724 23,893,394
15 Iceland $55,596 372,899 17 Austria$55,218 8,939,617
18 Sweden $54,146 10,549,347 19 Germany$54,076 83,369,843
20 Australia $51,680 26,177,413 21 Belgium$51,096 11,655,930
22 Finland $49,853 5,540,745 23 Bahrain$48,766 1,472,233
24 Canada $48,720 38,454,327 25 Saudi Arabia$46,811 36,408,820
26 France $46,062 64,626,628 27 South Korea$44,621 51,815,810
28 United Kingdom $44,117 67,508,936 29 Malta$42,856 533,286
30 Japan $42,248 123,951,692 31 New Zealand$42,018 5,185,288
32 Kuwait $41,627 4,268,873 33 Italy$40,861 59,037,474
34 Czech Republic $40,618 10,493,986 35 Israel$40,547 9,038,309
36 Cyprus $40,107 1,251,488 38 Slovenia$40,067 2,119,844
39 Spain $39,121 47,558,630 40 Estonia$38,834 1,326,062
37 Lithuania $38,824 2,750,055 41 Poland$34,103 39,857,145
42 Portugal $34,043 10,270,865 43 Puerto Rico$34,025 3,252,407
45 Hungary $33,030 9,967,308 46 Slovakia$32,709 5,643,453
47 Latvia $31,509 1,850,651 48 Romania$30,526 19,659,267
49 Turkey $30,253 85,341,241 50 Oman$30,178 4,576,298
51 Aruba $29,090 106,445 52 Greece$28,748 10,384,971
53 Russia $27,903 144,713,314 54 Croatia$27,717 4,030,358
55 Malaysia $27,402 33,938,221 56 Panama$27,003 4,408,581
57 Kazakhstan $26,565 19,397,998 58 Seychelles$25,414 107,118
59 Trinidad and Tobago $25,031 1,531,044 60 Bulgaria$23,817 6,781,953
61 Chile $23,366 19,603,733 62 Uruguay$22,459 3,422,794
64 Argentina $20,751 45,510,318 65 Mauritius$20,292 1,299,469
66 Belarus $20,187 9,534,954 67 Costa Rica$19,990 5,180,829
68 Guyana $19,684 808,726 69 Maldives$19,609 523,787
71 Serbia $19,146 7,221,365 72 Mexico$19,130 127,504,125
73 Antigua and Barbuda $18,618 93,763 74 Dominican Republic$18,608 11,228,821
75 Thailand $18,236 71,697,030 76 Equatorial Guinea$17,788 1,674,908
77 China $17,192 1,425,887,337 78 Botswana$16,893 2,630,296
79 North Macedonia $16,712 2,093,599 80 Turkmenistan$16,520 6,430,770
81 Gabon $15,970 2,388,992 82 Grenada$15,431 125,438
83 Bosnia and Herzegovina $15,047 3,233,526 84 Georgia$14,918 3,744,385
85 Brazil $14,916 215,313,498 86 Suriname$14,513 618,040
87 Azerbaijan $14,431 10,358,074 88 Colombia$14,324 51,874,024
89 Palau $14,309 18,055 90 Albania$14,218 2,842,321
91 Barbados $13,553 281,635 93 Armenia$13,261 2,780,469
94 Sri Lanka $13,214 21,832,143 95 Ukraine$13,110 39,701,739
96 Iran $13,073 88,550,570 97 Paraguay$12,881 6,780,744
98 Moldova $12,811 3,272,996 99 Egypt$12,790 110,990,103
101 Indonesia $12,222 275,501,339 102 Bhutan$12,060 782,455
103 South Africa $12,032 59,893,885 104 Peru$11,871 34,049,588
105 Mongolia $11,825 3,398,366 106 Fiji$11,567 929,766
107 Lebanon $11,564 5,489,739 109 Algeria$11,112 44,903,225
110 Dominica $11,072 72,737 111 Ecuador$11,009 18,001,000
112 Vietnam $10,869 98,186,856 113 Jordan$10,306 11,285,869
114 Tunisia $10,120 12,356,117 115 Iraq$10,003 44,496,122
116 Jamaica $9,975 2,827,377 117 Nauru$9,856 12,668
118 Namibia $9,396 2,567,012 119 Eswatini$8,957 1,201,670
120 Philippines $8,452 115,559,009 121 El Salvador$8,422 6,336,392
122 Bolivia $8,344 12,224,110 123 Guatemala$8,293 17,843,908
124 Laos $8,111 7,529,475 125 Morocco$7,620 37,457,971
126 Uzbekistan $7,449 34,627,652 127 Angola$6,932 35,588,987
128 India $6,461 1,417,173,173 130 Tonga$6,191 106,858
131 Belize $6,046 405,272 132 Libya$5,893 6,812,341
133 Mauritania $5,834 4,736,139 134 Ghana$5,693 33,475,870
135 Samoa $5,653 222,382 136 Nicaragua$5,575 6,948,392
137 Honduras $5,450 10,432,860 139 Ivory Coast$5,365 28,160,542
140 Bangladesh $5,307 171,186,372 141 Myanmar$5,242 54,179,306
142 Nigeria $5,187 218,541,212 143 Venezuela$5,178 28,301,696
144 Pakistan $5,150 235,824,862 145 Djibouti$5,096 1,120,849
146 Kyrgyzstan $5,036 6,630,623 147 Kenya$4,926 54,027,487
148 Cambodia $4,695 16,767,842 149 Tuvalu$4,497 11,312
150 Republic of the Congo $4,188 5,970,424 151 Sudan$4,098 46,874,204
152 Nepal $4,061 30,547,580 153 Papua New Guinea$3,833 10,142,619
155 Marshall Islands $3,786 41,569 156 Tajikistan$3,676 9,952,787
157 Cameroon $3,646 27,914,536 158 Senegal$3,478 17,316,449
159 Micronesia $3,446 114,164 160 Benin$3,437 13,352,864
161 Timor Leste $3,382 1,341,296 162 Zambia$3,342 20,017,675
163 Comoros $3,048 836,774 164 Haiti$2,916 11,584,996
165 Ethiopia $2,908 123,379,924 166 Tanzania$2,821 65,497,748
167 Lesotho $2,718 2,305,825 168 Zimbabwe$2,622 16,320,537
169 Guinea $2,604 13,859,341 170 Vanuatu$2,586 326,740
171 Uganda $2,574 47,249,585 172 Solomon Islands$2,455 724,273
173 Mali $2,401 22,593,590 174 Afghanistan$2,390 41,128,771
175 Guinea Bissau $2,348 2,105,566 176 Rwanda$2,337 13,776,698
177 Gambia $2,276 2,705,992 178 Burkina Faso$2,262 22,673,762
179 Kiribati $2,200 131,232 180 Togo$2,199 8,848,699
181 Yemen $1,927 33,696,614 182 Eritrea$1,821 3,684,032
183 Sierra Leone $1,725 8,605,718 184 Chad$1,611 17,723,315
185 Madagascar $1,599 29,611,714 186 Liberia$1,557 5,302,681
187 Mozambique $1,277 32,969,518 188 Niger$1,259 26,207,977
189 DR Congo $1,106 99,010,212 190 Malawi$993 20,405,317
191 Central African Republic $979 5,579,144 192 Somalia$925 17,597,511
193 South Sudan $791 10,913,164 194 Burundi$760 12,889,576

## Per Income Capita 2022- FAQs

Q. What do you mean by Per Capita Income?

Per capita Income or PCI is the average income earned by every individual in a certain time period of a given area (say, a country, state, city, or others). It can be calculated by dividing the total income of a specific area by the total population of that area.
In order to assess a population’s standard of living, per capita income, is used to calculate the average per-person income.

Q, How to calculate the Per Capita income of a Country?

Any country’s per capita income is determined by dividing its national income by its population. In a nation, a state, or a particular area, PCI or per capita Income defines the average income of an individual person in a specific time period in a specific geographical area. The Per Capita Income  formula is
Per capita income or PCI = Total income earned by Population / Population of a specific area

Q.Which nation’s per capita income is the highest in the world?
The nation with the highest income per capita, by any metric, is Luxembourg,  The per capita income in Norway has consistently been among the highest in the world.

Q. What is GDP Per Capita?

The GDP per capita of a nation is calculated by dividing a nation’s economic production by its population, You must divide the population of a country by its entire domestic economic production. GDP per capita is calculated using the following formula:

GDP Per Capita = Gross Domestic Product/ Population

Q.What is the GNI for India in 2022?

In the fiscal year 2022, India’s per-capita net national income, or NNI, was approximately 150,000. The gross national income, in comparison, was nearly 146 trillion rupees at constant prices. At constant prices, the GNI growth rate the prior year was almost 9%.

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## FAQs

### What do you mean by Per Capita Income?

Per capita Income or PCI is the average income earned by every individual in a certain time period of a given area (say, a country, state, city, or others). It can be calculated by dividing the total income of a specific area by the total population of that area.
In order to assess a population's standard of living, per capita income, is used to calculate the average per-person income.

### How to calculate the Per Capita income of a Country?

Any country's per capita income is determined by dividing its national income by its population. In a nation, a state, or a particular area, PCI or per capita Income defines the average income of an individual person in a specific time period in a specific geographical area. The Per Capita Income  formula is
Per capita income or PCI = Total income earned by Population / Population of a specific area

### What is the GNI for India in 2022?

In the fiscal year 2022, India's per-capita net national income, or NNI, was approximately 150,000. The gross national income, in comparison, was nearly 146 trillion rupees at constant prices. At constant prices, the GNI growth rate the prior year was almost 9%.

### What is GDP Per Capita?

The GDP per capita of a nation is calculated by dividing a nation's economic production by its population, You must divide the population of a country by its entire domestic economic production. GDP per capita is calculated using the following formula:
GDP Per Capita = Gross Domestic Product/ Population