Income in India

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. 98,374 in 2022-23.[1] The per-capita income is a crude indicator of the prosperity of a country. 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] According to The Economist, 78 million of India's population are considered middle class as of 2017, if defined using the cutoff of those making more than $10 per day, a standard used by the India's National Council of Applied Economic Research.[4] According to the World Bank, 93% of India's population lived on less than $10 per day, and 99% lived on less than $20 per day in 2021.[5]

  1. ^ "PER CAPITA INCOME". pib.gov.in. Retrieved 7 April 2024.
  2. ^ "Per capita national income in India FY 2015-2020 Published by Statista Research Department, Oct 16, 2020".
  3. ^ "In the pandemic, India's middle class shrinks and poverty spreads while China sees smaller changes". Pew Research Center. Retrieved 18 March 2021. The poor live on $2 or less daily, low income on $2.01-$10, middle income on $10.01-$20, upper-middle income on $20.01-$50 and high income on more than $50. All dollar figures are expressed in 2011 prices and purchasing power parity dollars, currency exchange rates adjusted for differences in the prices of goods and services across countries.
  4. ^ "India's missing middle class". The Economist. 11 January 2018. Archived from the original on 10 August 2019. Retrieved 10 August 2019.
  5. ^ "Poverty and Inequality Platform". World Bank. Archived from the original on 30 January 2023. Retrieved 17 May 2022.