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Covid-19 to dent India's FY21 per capita income by 5.4%: SBI report

Among states, Delhi, Chandigarh, and Gujarat will be the worst hit with PCI falling 15.4 per cent, 13.9 per cent and 11.6 per cent, respectively in FY21

Economy
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Over the past few weeks, global rating agencies such as Fitch, S&P and Moody’s have lowered India’s sovereign ratings. (Illustration: Ajay Mohanty)

Puneet Wadhwa New Delhi
Covid-19 pandemic is likely to bring down India’s per capita income (PCI) by 5.4 per cent in the financial year 2020-21 (FY21) to Rs 1.43 lakh from Rs 1.52 lakh in FY20, suggests the latest report by the economic wing of State Bank of India (SBI). This decline in PCI is higher than the nominal GDP decline of 3.8 per cent, the report says.

Among states, Delhi, Chandigarh, and Gujarat will be the worst hit with PCI falling 15.4 per cent, 13.9 per cent and 11.6 per cent, respectively in FY21, the report says. At the other end of the

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