Trends of National Income in India

The national income of India has witnessed several ups and downs over the years. Here are the major trends in the national income of India:

Rise in National Income
- India's national income has been rising steadily over the years.
- In 1950-51, India's national income was INR 2.7 lakh crores, which rose to INR 137.8 lakh crores in 2019-20.
- The average annual growth rate of India's GDP has been around 6.8% between 2014 and 2019.

Shift in Sectoral Composition
- The share of agriculture in India's GDP has been declining while the share of the services sector has been increasing.
- In 1950-51, agriculture contributed around 55% to India's GDP, which dropped to around 17% in 2019-20.
- The share of the services sector in India's GDP has been increasing, from around 29% in 1950-51 to around 55% in 2019-20.

Regional Disparities
- There are significant regional disparities in the national income of India.
- While states like Maharashtra, Tamil Nadu, and Karnataka have a high per capita income, states like Bihar, Uttar Pradesh, and Odisha have a low per capita income.
- The government has been taking steps to bridge these regional disparities through various schemes and programs.

Impact of COVID-19
- The COVID-19 pandemic had a significant impact on India's national income.
- India's GDP contracted by 7.7% in 2020-21 due to the restrictions imposed to curb the spread of the virus.
- However, India's GDP is expected to bounce back in the coming years as the economy recovers from the pandemic.

In conclusion, India's national income has been rising steadily over the years, with a shift in sectoral composition and significant regional disparities. The COVID-19 pandemic had a significant impact on India's national income, but the economy is expected to recover in the coming years.