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Transcript of Economics
- 1. ECONOMIC SURVEY The Economic Survey presents a rosy pictureabout the Per capita Income by representingIndias Per Capita Net National Income (factorcost at current prices) at Rs. 54527 for 2010-11. The Above figure of Rs. 46492 for 2009-10 wasreleased on 31 January 2011 by the CSO. It saidthat the per capita income of Indians grew by14.5 per cent to Rs 46,492 in 2009-10 from Rs40,605 in the year-ago period. This new per capita income figure estimates oncurrent market prices is over Rs 2,000 morethan the previous estimate of Rs 44,345calculated by the Central StatisticalOrganisation. The figure is arrived by taking inaccount Indias current population of 117Crore. But here confusion must be avoided. Theincrease in per capita income is only about 6per cent in 2009-10 if it is calculated on theprices of 2004-05 prices. If we calculate onthose prices, it gives a better picture andcompares the factors inflation too.
2. INCOME AND CONSUMPTIONAs of 2005:85.7% of the population lives on less than $2.50 (PPP) a day, down from 92.5% in 1981. This compares with80.5% in Sub-Saharan Africa.75.6% of the population lives on less than $2 a day (PPP), which is around 20 rupees or $0.5 a day in nominalterms. It was down from 86.6% and compares with 73.0% in Sub-Saharan Africa.24.3% of the population earned less than $1 (PPP, around $0.25 in nominal terms) a day in 2005, down from42.1% in 1981.41.6% of its population is living below the new international poverty line of $1.25 (PPP) per day, down from59.8% in 1981. The World Bank further estimates that a third of the global poor now reside in India. 3. EDUCATIONIndia has made huge progress in terms of increasing primaryeducation attendance rate and expanding literacy toapproximately two thirds of the population. However, educationis still far behind developing countries such as China. Mostchildren never attend secondary schools. An optimistic estimate isthat only one in five job-seekers in India has ever had any sort ofvocational training. 4. Rank County Average Per Capita Income1 Teton County, Wyoming $132,7282 New York County, New York $120,7903 Loving County, Texas$99,5934 Pitkin County, Colorado $93,4655 Marin County, California$91,4836 Fairfield County, Connecticut $81,5767 Westchester County, New York$74,8788 San Mateo County, California$71,7539 Morris County, New Jersey $71,71310City and County of San Francisco, California$71,34211Somerset County, New Jersey $70,94912City of Alexandria, Virginia$70,63213Arlington County, Virginia$68,27014Fairfax County, City of Fairfax, and City of Falls Church, Virginia $67,90915Montgomery County, Maryland $67,52516Bergen County, New Jersey $67,12517Hunterdon County, New Jersey$66,44918Sully County, South Dakota$64,35219Blaine County, Idaho$64,20720Collier County, Florida $63,276