How much has the per capita income of Madhya Pradesh, at current prices, increased from financial year 2011-12 to financial year 2023-24?

Question

UnlockIAS · Accepted Answer

Correct — C, Nearly four-fold. On the state Economic Survey's figures, Madhya Pradesh's per capita income at current prices was about ₹38,500 in 2011-12 and had reached roughly ₹1.4 lakh by 2023-24 (an advance estimate). That is a rise of about 3.6 to 3.7 times over twelve years — already well past three times, and close enough to four that 'nearly four-fold' is the option the commission's key records as correct.

Why the other options are wrong — (a) Far too low. A doubling would put 2023-24 at roughly ₹77,000; the actual current-price figure is close to twice that again.  (b) The trap option. Tripling would mean about ₹1.15 lakh, which the state crossed before 2023-24 — the multiple has already gone past three, so 'nearly tripled' understates it and 'nearly four-fold' is the closer description.  (d) Plainly wrong on the data. Even ignoring real growth, twelve years of price rise alone would have lifted a nominal (current-price) figure substantially.

Concept: Per capita income of a state is its Net State Domestic Product divided by the projected mid-year population, so it moves with both output and population. It is published two ways. At current prices (nominal) the figure includes the effect of price rise; at constant prices — the present series uses 2011-12 as base year — the price effect is stripped out, so it shows real change. A nominal multiple of about 3.6 over twelve years therefore corresponds to a much smaller rise in real purchasing power.

State PCS 2025 Q90 — Madhya Pradesh GK PYQ with Answer

State PCS 2025 Q90 — Madhya Pradesh GK PYQ with Answer