India’s Finance Minister Nirmala Sitharaman said income per person will almost double in five years time as the economy continues to grow, while warning that the global environment is tougher now than it was in the past.

Sitharaman said economic policies have doubled per capita income in a short span, substantially improving the living standards of Indians.

A state’s per capita income plays a key factor in showcasing its economy as well as the overall growth. It highlights the average income of citizens, emphasizing the efficiency and effectiveness of governance,

Finance Minister Nirmala Sitharaman highlighted that India is well on track to double its per capita income within a few years, largely driven by economic and structural reforms implemented over the past decade.

Fuelled by overall economic growth, per capita income in the country is likely to increase by at least $2,000 over the next five years, according to Finance Minister Nirmala Sitharaman on Friday. The Finance Minister said that it took 75 years to reach a per capita income of $2,

GCCs, primarily driven by multinational corporations, have seen rapid growth in India, with nearly 56 per cent of their revenue now coming from research and development (R&D) services.

India will witness the steepest rise in living standards of the common man on the back of the government's initiatives and the efforts towards doubling per capita income in a few years, Finance Minister Nirmala Sitharaman said on Friday.