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India accounts for 3 of the global middle class with 23 6 million people.
Upper middle class income family of 6. For lower income households it was 25 624. They manage to save some money for retirement. These income ranges vary with the cost of living in metropolitan areas and with household size. It has the lowest threshold for a person to be considered middle class with annual wealth of 13 662 rs 737 748 or rs 61 480 per month.
In order to find out how much a middle class family is earning gobankingrates multiplied each median income by 0 67 for the lower endpoint and by 2 for the upper endpoint. 57 772 76 to 172 456 4 person family middle class income range. Only savings are 80c ie 1 5 lacs for tax exemptions. Nearby office hubs like whitefield electronic city outer ring road are more expensive in.
A family of 4 which can rent a. Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings. Here is what the middle class earns how much of the country is in the middle class. The rest of the country of course is made up of the lower class and upper class 29 of the country falls into the lower class with a median income of 25 624 as of 2016.
Definitely more expensive than most other south indian cities. An annual inhand income of 4 8 lacs. Bangalore what a rocking city. For high earners a three person family needed an income between 100 000 and 350 000 to be considered upper middle class rose says.
Middle class incomes in 2020. These numbers are in 2016 dollars and scaled to reflect a three person household. With 23 6 million people the indi. Lower income households had incomes less than 48 500 and upper income households had incomes greater than 145 500 incomes in 2018 dollars.
Those who earn more than 350 000 are rich. 2 person family middle class income range. In 2018 the national middle income range was about 48 500 to 145 500 annually for a household of three.
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