Income Of Upper Class In India
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Can think of buying a 2 bedroom apartment on loan in a average location in a city such as bangalore.
Income of upper class in india. Or maybe 2 hatchback such as i10. India has boomed in recent years buoyed by a growing population and rapid economic development. In 2019 the poverty line reduced further to about 2 7 and india no longer holds the position of the nation with the largest population under poverty. Nationally a little over a quarter of india s population are affluent based on the criteria described above a little over a 10th are poor and the rest fall in the middle income category.
India s economy is projected to grow at a base rate of 7 5 annually to 2030 according to an analysis from bain company with 500 million people moving into the middle and high income bracket over the period. Up to 95 of india still qualifies as poor or low income the vast. A look at india s break up based on these parameters would leave you asking where that celebrated middle class actually is. The standard of living in india varies from state to state.
More than 32 of the comfortable middle class and more than 23 of the upper middle class are located in rural india. A family of 4 which can buy and maintain a car in the c2 segment such as honda city. There is significant income inequality within india as it is simultaneously home to the some of the world s. Enter your total monthly household income my total monthly household income is.
They have broken down the middle class into two the lower middle living on 2 4 per person per day and upper middle living on 6 10 per person per day.
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