What Is Income Of Middle Class In India
Broadly middle class seems to depend on how much income a person under this definition earns.
What is income of middle class in india. Buy and maintain a. There can be arguments about how much income is good. They manage to save some money for retirement. Who exactly then is the indian middle class.
The median income of the middle class by by household size. The median income of the middle class as of 2016 was 78 442. An annual inhand income of 4 8 lacs. Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings.
Only savings are 80c ie 1 5 lacs for tax exemptions. A family of 4 which can rent a 2 bedroom apartment in a average area of city.