India's per capita income grew by 10.5 per cent to Rs 44,345 in 2009-10 against Rs 40,141 in the year-ago period, according to government data. The World Bank, however, pegs India's per capita income at a much higher $1,180 per year.
Per capital income means income of each Indian if national income is evenly divided among the country's population of 117 crore (Rs 1.17 billion).
So which are the nations with the highest per capita income in the world?
1. Monaco: $203,900:
Monaco, a major tourist resort in the Mediterranean, has the highest per capita income in the world at a breathtaking $203,900.The Principality of Monaco has booming high value-add industries and a strong services sector. Monaco has no income tax, but it makes most of its money from being a tax haven.
2. Liechtenstein: $113,210:
Natives of Liechtenstein, a small country bordering Switzerland and Austria, are the second richest in the world in terms of annual per capita income.The principality has an industrialized economy, with banking and financial services being the mainstay. Tourism too is a major revenue earner for the nation.
3. Norway: $86,440
Norway's per capita income stands at $86,440, which is the third highest in the world.Norway has a mixed economy consisting of state-owned businesses and a robust free market. It's a highly developed and an industrialized state.
4. Luxembourg: $74,430:
Luxembourg's per capita income is at $74,430. That makes it the world's fourth highest Per Capita Income. Luxembourg is located in Europe and is bordered by Belgium, France, and Germany. The nation has highly developed industrial and financial sectors.
5.Channel Islands: $68,610:
The per capita income in Channel Islands is a whopping $68,610. That makes it the fifth highest per capita income in the world. Tourism is the major revenue generator for the Channel Islands. The islands of Jersey and Guernsey also provide financial services and are tax havens.
Source:Rediff
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