Indian Income Rockets
Finance Minister P Chidambaram has said that he expects the country’s per capita income to touch $4,000 by 2025,” shattering all forecasts by global economic pundits. “A BRIC report has forecast India’s per capita income would touch US dollar 800 by 2010 and USD 1,149 by 2015. But we have exploded this assumption as our per capita income has already touched $1,000 this year and expect it to touch $4,000 by 2025,” Chidambaram said. Today one cannot get a farm labourer for below Rs 80, carpenter won’t be available for less than Rs 150 and a senior mason will charge Rs 200. People are demanding and getting more. This aspiration is driving consumption which will make India a middle income country in next 15-20 years, he said. Read more.