India’s per capita income has almost doubled to ₹1.72 lakh since 2014-15

Current Context: According to National Statistics Office (NSO) data, India's per capita income in terms of net national income has increased from Rs 86,647 in 2014-15 to Rs 1.72 lakh in 2022-23.In real terms (constant prices), however, the country's per capita income is up by about 35 per cent from Rs 72,805 in FY2014-15 to Rs 98,118 in FY2022-23.

• Economists believe sustaining per capita income between 5% to 6% per annum along with appropriate re-distributive policies will support the country's growth ahead.
• However, they also pointed out that uneven income distribution is likely to be a challenging factor and that India still lags behind many other countries in terms of per capita income.
• According to a report, India's per capita income in terms of net national income has doubled since 2014-15 when the NDA government came to power at the Centre.
• Per capita income is not a reliable indicator of growth as it hides the uneven distribution of income and does not reflect the situation of the bottom 60-70% of the population who face extreme inequality.
• Economists who say that India's per capita income is still low compared to many other countries and that it does not capture the impact of inflation, unemployment and poverty on people's well-being.

Question:

Q.1 According to NSO data, India’s per capita income in terms of net national income has almost doubled to ________ since 2014-15.
a. Rs.1.72 lakh 

b. Rs.2.50 lakh 

c. Rs.1.25 lakh 

d. Rs.2.00 lakh