New Delhi, Dec. 6 -- In 2021-22, India's gross domestic product (GDP) growth was 8.7%. In comparison, the per-capita income growth was 7.6%. So, growth in the average income of an Indian was 110 basis points lower than overall growth in the Indian economy. One basis point is one-hundredth of a percentage point. The reason for this lies in the fact that the country's population also grows every year and hence any economic growth has to be shared among a greater number of people.

While the difference at an aggregate India level was 110 basis points, the difference at state levels varied quite a bit. Let's take the case of Tamil Nadu. The state's GDP in 2021-22 rose by 8%, whereas the per-capita income rose by a lower 7.6%. The difference i...