There was an error in the disposable income data, which was corrected a day later.

India Disposable Income: The central government has revised its earlier estimates, revising the data on the disposable income of Indians. In FY 2023-24, the government had earlier expected the disposable income to be Rs 2.12 lakh, which has now been increased to Rs 2.14 lakh. A day after the GDP data was released, the disposable income data has been changed.

Disposable income has increased tremendously.

The country has recorded an economic growth of 8.4 percent during the third quarter of fiscal year 2023-24 from October to December. In the third quarter, the country’s GDP growth rate was 8.4 percent. While in the second quarter it was 7.6 percent. After the latest GDP data released on Thursday, changes in gross disposable income, net national disposable income and per capita disposable income were expected. In the fiscal year 2024, the country has recorded an increase of 8 percent in per capita disposable income. While last year there was an increase of 13.3 percent.

India’s overall disposable income may increase.

The country’s gross disposable income may grow at the rate of 8.9 percent in FY 2024 instead of 13.8 percent and 14.5 percent in FY 2023 instead of 8.9 percent. According to GNDI’s calculations, India’s overall saving has declined from 30 percent to 29.70 percent in FY 2022-23. Whereas in the last financial year it was 30.80 percent.

What is disposable income?

Disposable income is the income that is left with the family after paying taxes and other expenses, including house rent and fuel costs. Inflation has a direct impact on disposable income as housing and fuel costs rise immediately as inflation rises.

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