India’s Per Capita Income Expected to Rise Significantly by FY47, According to SBI Report

  • Per capita income in India is expected to increase from Rs 2 lakh in FY23 to Rs 14.9 lakh in FY47.
  • The report also notes a significant migration of taxpayers from lower to upper income strata.
  • By FY47, the Indian workforce is projected to grow to 725 million from 530 million in FY23, with an increase in the taxable base and ITR filers.
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