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Income in India discusses the financial state in India. With rising economic growth and India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around Rs. 1,69,496 in 2022-23. [1] The per-capita income is a crude indicator of the prosperity of a country.
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]
Indian Prime Minister Narendra Modi’s government presented an annual budget to Parliament on Saturday that focused on wooing the salaried middle class with tax cuts and spurring economic growth ...
In a major relief to millions of taxpayers, the government has raised income tax exemption limits, making earnings of up to 1.2m rupees ($13,841; £11,165) - excluding special rate income like ...
Income inequality in India refers to the unequal distribution of wealth and income among its citizens. According to the CIA World Factbook , the Gini coefficient of India, which is a measure of income distribution inequality, was 35.2 in 2011, ranking 95th out of 157. [ 2 ]
"The new structure will reduce taxes on middle class and leave more money in their hands, boosting household consumption, savings and investment," Finance Minister Nirmala Sitharaman said in ...
Upper middle class. Median net worth: $300,800. Median income: $115,660. The upper middle class consists of those in the 60th to 80th percentile of household income. The median net worth is nearly ...
Common definitions for the middle class range from the middle fifth of individuals on a nation's income ladder, to everyone but the poorest and wealthiest 20%. [3] Theories like "Paradox of Interest" use decile groups and wealth distribution data to determine the size and wealth share of the middle class. [4]