But gross domestic savings ratio has come down.
Revised estimates of national income reveal that India’s per capita income grew by 13.3 per cent to Rs 40,141 in 2008-09, against the revised estimate of Rs 35,430 for 2007-08.
An earlier estimate had stated that the per capita income for 2008-09 had grown by 12.6 per cent on an annual basis to Rs 37,490, against the old estimate of Rs 33,283 for the same period.
However, according to the revised estimates, saving as a percentage of the gross domestic product (GDP) declined to 32.5 per cent during 2008-09 compared to 36.4 per cent in 2007-08.
However, the growth in GDP stood at 6.7 per cent for 2008-09 by both the old and the new methods.
The revised estimates of national income that took into account the 2004-05 prices were announced by the government today. The new series of national income factored in the change of base year to 2004-05 from 1999-2000.
According to the estimates, gross domestic savings at current prices (2008-09) is estimated to constitute 32.5 per cent of GDP (at market prices) at Rs 18,11,585 crore in 2008-09, against 36.4 per cent in 2007-08.
Moreover, the rate of gross domestic capital formation at current prices is 34.9 per cent in 2008-09 at Rs 19,44,328 crore, as against 37.7 per cent in 2007-08.
The new series, besides the shifting of the base year, incorporates improvement in coverage as recommended by the System of National Accounts of the United Nations, World Bank and the International Monetary Fund.
Moreover, the new series takes into account the latest available results of long-term surveys by the National Sample Survey Organisation.
