To answer the question about which state in India had the highest per capita income for the financial year 2018-19, we must refer to the data provided by reliable sources such as the Ministry of Statistics and Programme Implementation (MoSPI). According to the MoSPI, the state with the highest per capita income for that period was Goa.
Here's the reasoning to explain why Goa is the correct answer:
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Understanding Per Capita Income:
- Per capita income is a measure of the amount of money earned per person in a certain area within a specified period. It is calculated by dividing the area's total income by its population.
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Comparison with Other States:
- Kerala: While Kerala has a high Human Development Index and a well-developed social system, its per capita income is lower compared to Goa.
- Karnataka: Known for its technological hubs and economic growth, Karnataka's per capita income is significant but does not surpass Goa's.
- Haryana: Haryana is economically rich due to its proximity to the national capital and industrial areas, but it also does not exceed Goa's per capita income for that period.
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Data Reference:
- According to the MoSPI data from that time, Goa led in per capita income due to its small population and revenue from sectors like tourism and mining.
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Conclusion:
- Based on the data, Goa's unique economic structure and revenue generation practices made it the state with the highest per capita income in 2018-19.
By analyzing the economic structure and the per capita income data, Goa emerges as the correct choice for the question on highest per capita income in India for the year 2018-19.
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Important Questions from National Income Accounting
Division of labour often involves
1. specialized economic activity.
2. highly distinct productive roles.
3. involving everyone in many of the same activities.
4. individuals engage in only a single activity and are dependent on others to meet their various needs.
Select the correct answer using the code given below:
Which of the following is NOT one of the methods of national income estimation?
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I. Only marketed goods and considered while estimating Gross Domestic Product (GDP).
II. The work done by a woman at her home is outside the purview of Gross Domestic Product.
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