India's per capita income moves up to Rs 32,299

Per capita income of Indians for the first time breached Rs 30,000 mark and has reached to Rs 32,299 during 2007-08 indicating their growing purchasing power.
The revised estimates, which were released by the government today, indicate that per capita income at current prices rose by 12.3 per cent from Rs 29,642 to Rs 32,299 during the year.
At constant prices (1999-2000 prices), which is worked out after taking into account the erosion in purchasing power of rupee, the per capita income moved up to Rs 24,321 representing an increase of 7.8 per cent during 2007-08.
"This is an important aspect of growth... More money is available in the hands of people. It is a very good sign," Finance Minister P Chidambaram told reporters soon after release of the data.
However, there has been a deceleration in the growth of per capita income at current prices, which rose by 12.3 per cent during 2007-08 as compared to an increase of 14.2 per cent during the previous fiscal.
Similarly, in case of per capita income at constant prices, the rate of increase decelerated to 7.8 per cent as compared to 8.1 per cent in the previous fiscal.
According to the estimates, India’s population at the end of 2007-08 has been estimated at 113.8 crore, up from 112.2 crore at the end of the previous fiscal.