The GDP of India rose from a meagre Rs. 5 lakh crore (1950-51) to about 147 lakh crore (2020-21) at constant prices of 2011-12, growing about 27 times with a CAGR of about 4.8 per cent. But in the shadow of this growth story lies a duality which attracts the attention of every policymaker and concerned citizens.
Even as the GDP has grown 27-fold in last seven decades, the per capita income has grown merely seven-fold from about Rs.14,000 (1950-51) to about Rs. 1 lakh (2020-21) at constant prices of 2011-12, with a CAGR of about 2.9 per cent2 .