Per capita income or average income or income per person is a measure of mean income within an economic aggregate, such as a country or city. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross National Income) and dividing it by the total population. It does not attempt to reflect the distribution of income or wealth.

Per capita income as a measure of prosperity[link]

Per capita income is often used as a measure of the wealth of the population of a nation, particularly in comparison to other nations. It is usually expressed in terms of a commonly used international currency such as the Euro or United States dollar, and is useful because it is widely known, easily calculated from readily-available GDP and population estimates, and produces a useful statistic for comparison.

Per capita income has several weaknesses as a measurement of prosperity:

• As it is a mean value, it does not reflect income distribution. If the distribution of income within a country is skewed, a small wealthy class can increase per capita income far above that of the majority of the population. In this respect Median income is a more useful measure of prosperity than per capita income, because it is less influenced by the outliers.

• Economic activity that does not result in monetary income, such as service provided within the family, or for barter, are usually not counted. The importance of these services varies widely among different economies.

• Comparisons of per capita income over time need to take into account changes in prices. Without using measures of income adjusted for inflation, they will tend to overstate the effects of economic growth.

• International comparisons can be distorted by differences in the costs of living between countries that aren't reflected in exchange rates. Where the objective of the comparison is to look at differences in living standards between countries, using a measure of per capita income adjusted for differences in purchasing power parity more accurately reflects the differences in what people are actually able to buy with their money.

See also[link]

• List of countries by GDP (nominal) per capita—GDP at market or government official exchange rates per inhabitant
• List of countries by GDP (PPP) per capita—GDP calculated at purchasing power parity (PPP) exchange per inhabitant
• List of countries by GNI per capita
• List of countries by income equality
• Total personal income

Per capita is a Latin prepositional phrase: per (preposition, taking the accusative case, meaning "by, by means of") and capita (accusative plural of the noun caput, "head"). The phrase thus means "by heads" or "for each head", i.e. per individual or per person. The term is used in a wide variety of social sciences and statistical research contexts, including government statistics, economic indicators, and built environment studies.

It is commonly and usually used in the field of statistics in place of saying "for each person" or "per person".^[1] It is also used in wills to indicate that each of the named beneficiaries should receive, by devise or bequest, equal shares of the estate. This is in contrast to a per stirpes division, in which each branch (Latin stirps, plural stirpes) of the inheriting family inherits an equal share of the estate.

References[link]

See also[link]

Look up per capita in Wiktionary, the free dictionary.

• Per capita income

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Kundapur Vaman Kamath ಕುಂದಾಪುರ ವಾಮನ ಕಾಮತ
Born	(1947-12-02) 2 December 1947 (age 64) Mangalore, Karnataka, India
Alma mater	NIT Karnataka IIM Ahmedabad
Occupation	Chairman of Infosys Non-executive Chairman of ICICI Bank
Spouse	Rajalaxmi
Children	Ajay Kamath Ajnya Kamath Pai

Kundapur Vaman Kamath is the Chairman of Infosys Limited, the second-largest IT services company in India, and Non-Executive Chairman of ICICI Bank, India's largest private bank. Mr. Kamath served as ICICI Bank's Managing Director and CEO from May 1, 1996 until his retirement from executive responsibilities on April 30, 2009.^[1]

On 30 April 2011, K V Kamath was announced to replace Mr. N R Narayana Murthy as the chairman of Infosys. Murthy's last day as chairman of Infosys was August 20, 2011, Kamath took charge as the chairman from August 21, 2011.^[2]

Moreover, Mr. Kamath is currently an independent Director of Houston-based oil services company Schlumberger and Indian pharmaceutical manufacturer Lupin.

Early life[link]

Kamath was born on December 2, 1947 into a Goud Saraswat Brahmin family, in Mangalore, Karnataka where he spent most of his early years. After completing Higher Secondary and Pre-University from St. Aloysius School, he joined the Karnataka Regional Engineering College (now called National Institute of Technology Karnataka) in Surathkal for a Bachelors Degree in Mechanical Engineering. After graduating from KREC in 1969, he joined the Indian Institute of Management, Ahmedabad (IIM-A) for a Masters Degree in Business Administration.

Career[link]

After graduating from IIM-A in 1971, Kamath started his career with ICICI (Industrial Credit and Investment Corporation of India), in the Project Finance division and moved on to different departments to gather experience which included setting up of new businesses such as leasing, venture capital, credit rating as well as handling general management positions. As part of his general management responsibilities he initiated and implemented ICICI's computerisation programme. Substantial investments in technology from the early years have resulted in systems that are today a competitive advantage for ICICI. Kamath has generally been credited with expanding ICICI's businesses to evolve it into a technology-enabled financial organisation catering to the financial needs of corporate and retail customers.^[3]

In 1988, Kamath joined the Asian Development Bank, Manila in their Private Sector Department. His principal work experience at ADB was in various projects in China, India, Indonesia, Philippines, Bangladesh and Vietnam. He was the ADB representative on the Boards of several companies.

In May 1996, Kamath returned to ICICI as its Managing Director and Chief Executive Officer. Kamath was instrumental in expanding the Group's services to the retail customers. He initiated a process of a series of acquisitions of non-banking finance companies in 1996-98, and led the way to the formation of ICICI Bank.

Now, on 2nd may 2011 he is appointed as non-executive chairman of the second-largest software exporter, Infosys Ltd (earlier Infosys Technologies Ltd).

Personal life[link]

Kamath presently resides in Mumbai. He is married to Rajalaxmi and has a son, Ajay Kamath and a daughter, Ajnya Kamath Pai. He has two grandsons, Nandan K. Pai and Lakshan K. Pai who reside in the United States.

Board membership[link]

Kamath is a Member of the Governing Board on various educational institutions including the Indian Institute of Management Ahmedabad, Indian School of Business, National Institute of Bank Management, Pandit Deendayal Petroleum University, Gandhinagar Manipal Academy of Higher Education. Kamath is also a Member of the National Council of Confederation of Indian Industry (CII). KV Kamath was elected to the Board of Directors on Infosys Ltd on May 2, 2009 and on 30 April 2011 it was announced that he will take the Chairmanship of Infosys Limited on 21 August 2011.

Awards[link]

• Most e-savvy CEO amongst Asian banks - The Asian Banker Journal of Singapore^{[citation needed]}
• Finance Man of the Year award - The Mumbai Management Association^{[citation needed]}
• Best CEO for Innovative HR practices - World HRD Congress^{[citation needed]}
• Asian Business Leader of the Year - Asian Business Leader Award 2001 (CNBC Asia)^{[citation needed]}
• Outstanding Business Leader of the Year - CNBC-TV18, 2006^{[citation needed]}
• Businessman of the Year - Business India, 2005^{[citation needed]}
• Business Leader Award of the Year - The Economic Times, 2007^{[citation needed]}
• Businessman of the Year - Forbes Asia^[4]
• Padma Bhushan award from the Indian government - 2008^[5]

References[link]

1. ^ Kundapur Vaman Kamath Profile on Forbes
2. ^ IIFL: KV Kamath: Infosys may spend US$1bn on acquisitions
3. ^ Kundapur Vaman Kamath - the force behind ICICI's rise
4. ^ K V Kamath is Forbes Asia businessman of the year
5. ^ [1]

External links[link]

• Official profile
• Profile of K.V. Kamath
• K.V. Kamath speaks on Managing Change
• How K V Kamath built ICICI into a global giant