What income is considered as middle class in India?

India’s National Council for Applied Economic Research, which defines the middle class as those with household incomes between Rs 2 lakh and Rs 10 lakh per annum, estimated India’s middle class to be 153 million in 2010.

What is upper middle class in India?

The research agency divides the population in a country into five groups: poor, low income, middle income, upper-middle income, and high income for its analysis. 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.

What is the income of upper middle class?

A family earning between $32,048 and $53,413 was considered lower-middle class….What Is a Middle-Class Income?

What is considered as upper middle class?

In the United States, the upper middle class is defined as consisting of white-collar professionals who have above-average personal incomes, advanced educational degrees and a high degree of autonomy in their work, leading to higher job satisfaction.

How can a middle class person become rich in India?

A middle-class person needs to work extra along with their regular employment. It helps them earn extra income. Later, if it turns out well, one can switch it as a full-time way to earn money.

What percentage of Indian population is upper middle class?

Similarly, the ‘housing’ aspect of class is defined using data on house ownership and sanitation facilities. Based on all this, she finds that 28\% of India’s population is middle class — of which 14\% is lower middle class and about 3\% is upper middle class.

What is upper class income for a single person?

For its purposes, the Pew Research Center considers a household to be upper class if its income is double the U.S. median household income. This means that, on average, a single person living alone needs to make just $78,281 to be considered upper class.

What is the average income of middle class in India?

It has the lowest threshold for a person to be considered middle class with annual wealth of $13,662 (Rs 737,748 or Rs 61,480 per month). With 23.6 million people, the Indian middle class holds almost a quarter of the country’s wealth at $780 billion (Rs 5,070,000 crore).

How much money do you need to be middle class?

Typically economic researchers tend to use income or expenditure (as a proxy for income) to spot the middle class. For instance, in the above case, 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.

What is the income range of a rich person in India?

betweeen 20–50$ he/she is in the Upper Income Group. and above 50$ a day he/she is considered in as a Rich and Affluent Class. As far as India is Considered…We have following Income Groups/Classes or Categories where Household Income is concerned. A Typical Indian Household considered as Four Members in a Family.

What percentage of median income is considered middle income?

Some analysts have used a broader middle income range of 60 percent to 225 percent of the median income.