India to see steep rise in per capita income in coming decade: FM

The upcoming decades will see the steepest rise in living standards for the common man, making it a period-defining era for an Indian to live in, Finance Minister Nirmala Sitharaman said on Friday. Speaking at the Kautilya Economic Conclave, Sitharaman said India's youth, rise in consumption, and innovation will be among the forces that shape the India era.

The finance minister said that the effects of the last ten years of economic and structural reforms would manifest more thoroughly in the coming years, as the Covid shock fades from the economy.

Click here to connect with us on WhatsApp

“It took us 75 years to reach a per capita income of $2,730. As per International Monetary Fund (IMF) projections, it will take only five years to add another $2,000,” Sitharaman said in her inaugural address.