What Is The Average Income Of Upper Middle Class In India
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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.
What is the average income of upper middle class in india. The median income of the middle class by by household size. Let s take it one step deeper and look at various household sizes. The average wages are estimated to quadruple between 2013 and 2030. The median income of the middle class as of 2016 was 78 442.
The median net worth for the middle class hasn t changed for decades. Conversely the median net worth for the top one percent has performed extraordinarily well during the same time period. Minimum salary of 12 lacs ctc before taxes. They are also taxed aggressively.
Although making a high income is nice having a high net worth is more important. There is significant income inequality within india as it is simultaneously home to the some of the world s richest people. They have an in hand income of roughly 75000 a month. Some also define upper middle class as those who are college educated with incomes in the top 15 roughly 100 000 or greater for households or 63 000 or greater for individuals.
A family of 4 which can buy and maintain a car in the c2 segment such as honda city. 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. The upper middle class aka the mass affluent are loosely defined as individuals with a net worth or investable assets between 500 000 to 2 million. 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.
Let s explore the differences further. The indian middle class constitutes 300 350 million of the population. The think tank defines the middle class as households that are earning two thirds to double the national median. Or maybe 2 hatchback such as i10.
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