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In contrast, the gross national income at constant prices stood at over 128 trillion rupees. [2] According to a 2021 report by the Pew Research Center, India has roughly 1.2 billion lower-income individuals, 66 million middle-income individuals, 16 million upper-middle-income individuals, and barely 2 million in the high-income group. [3]
The standard of living in India varies from state to state. In 2021, extreme poverty was reduced to 0.8% [1] and India is no longer the nation with the largest population living in poverty. [2] There is significant income inequality within India, as it is simultaneously home to some of the world's richest people. [3]
According to a 2021 report by the Pew Research Center, India has roughly 1.2 billion lower-income individuals, 66 million middle-income individuals, 16 million upper-middle-income individuals, and barely 2 million in the high-income group. [8]
Income tax cuts for the salaried middle class Sitharaman said her government will initiate reforms in sectors like finance, power, urban development and mining, with “transformative reforms in ...
The income tax concessions to the middle class "seems aimed at addressing the slump in urban consumption", said Nomura's India Economist Aurodeep Nandi. The impact, however, could be limited since ...
The upper middle class consists of those in the 60th to 80th percentile of household income. The median net worth is nearly double that of the middle class. Average net worth for the upper class
lower middle-income line 3.20 (PPP $ day) 26.2 365m [7] upper middle-income line 5.50 (PPP $ day) 60.1 838m [7] Asian Development Bank (2014) poverty line $ 1.51 per person per day [8] Tendulkar Expert Group (2009) urban poverty line Rs 32 per person per day consumption [9] rural poverty line Rs 26 per person per day consumption [9]
According to the Pew Research Center, middle-class households are those earning between two-thirds to double the median household income in an area. The upper middle class refers to the top 20% of...