Income Range Of Middle Class In India

A person working in india typically earns around 31 900 inr per month.

Income range of middle class in india. You are in the top of the richest households in india. Other estimates for upper middle class income ranges from 100 000 to 149 999 and lower middle class and middle class ranging from the mid 35 000 range. Let s take it one step deeper and look at various household sizes. Only savings are 80c ie 1 5 lacs for tax exemptions.

According to the pew research definition if the middle class has an upper range of 1 232 and one converts it to a daily income threshold then this works out to an upper threshold of 3 5 a day. India continues to be a lower middle income country along with 46 others while sri lanka has climbed to the upper middle income group for the fiscal year 2020 according to the world bank s. This is the average monthly salary including housing transport and other benefits. The economists have used an income threshold that defines middle class people as those living on between 2 1 52 to 10 per person per day valued at 1993 purchasing power parity ppp dollars.

They manage to save some money for retirement. A family of 4 which can rent a 2 bedroom apartment in a average area of city. Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings. Is the middle class shrinking.

An annual inhand income of 4 8 lacs. The median income of the middle class as of 2016 was 78 442. The think tank defines the middle class as households that are earning two thirds to double the national median. Salaries vary drastically between different careers.

Buy and maintain a.