Per capita income is an indicator of the earnings of the residents of a country and the latest estimates of national income for 2021-22 show a slow rise after livelihoods were ravaged by the pandemic-led lockdown of the economy.
It now emerges that the rise in per capita in the current year is lower than what was estimated before the Omicron variant of the COVID-19 virus struck. The decline in the current prices is small but when it is measured in constant 2011-12 prices, the dent is significant.
The National Statistical Office has estimated the per capita income for 2021-22 at Rs 1,49,848, measured at current prices, in the second advance estimates, which was nearly Rs 500 lower than Rs 1,50,326 projected in the first advance estimates in January.
The difference between the first and second advance estimates, measured at constant 2011-12 prices, was more than Rs 2,000. The NSO had estimated the per capita income, measured at constant 2011-12 prices, at Rs 93,973 in the projections made in January 2022. It has been lowered to Rs 91,723 in the second advance estimates after taking into account the impact of the Omicron variant and net earnings from overseas.