India has more rich people than poor now

[T90TankGuy]

not surprising as we have been able to lift almost 15 -20 million people ever-year out of poverty .

 

[KRAIT]

Yup...1% of total population every year....

 

[SajeevJino]

who says India is a poor country.................Even most of our people have owned A motorbike,Mobile Phone, own house also.............

Jai ho India

 

[mirage 5000]

congs hope more and one day no poor in S.ASIA at all .

 

[rcrmj]

who says India is a poor country.................Even most of our people have owned A motorbike,Mobile Phone, own house also.............

Jai ho India

$1,500 per capital is not poor country? lol...how delusional are you?

 

[Shinigami]

India has more rich households than most European nations.

India has more rich households than most European nations - Economic Times

 

[Hafizzz]

'India has more rich people than poor now' - The Economic Times

NEW DELHI: For the first time ever, the number of high-income households in India has exceeded the number of low-income, the National Council of Applied Economic Research (NCAER) has estimated.

In its report, "How India Earns, Spends and Saves", released on Saturday, the NCAER estimated that despite the economic slowdown of the last three years, the number of high-income households should have reached 46.7 million by March 2010, exceeding the 41 million households counted as low-incomes.

If true, this would be a remarkable turnaround within just a decade. It started with just 13.8 million households described as high-income, or earning more than Rs 1.8 lakh per annum at 2001-02 prices. Meanwhile, 65.2 million households were classified as low-income or earning less than Rs 45,000 per year. The NCAER estimated that middle-income households, or those earning between Rs 45,000 and Rs 1.8 lakh per annum, rose sharply from 109.2 million to 140.7 million in the decade.

A new report says that the slowdown in the growth in the last three years of the decade had the maximum impact on middle income households. Though in absolute terms the number of middleclass households grew from 135.9 million in 2007-08 to 140.7 million by 2009-10, in percentage terms it fell marginally from 62% of all households to 61.6% in the same period.

Interestingly, the slowdown did not impact the expansion in the number of high-income households, which grew from 16.8% to 20.5% of all households in the last two years. The fall in the number of low-income households was also sharp, from 21.1% to 17.9% during the period.

NCAER, in the report also estimated the number of families having income between Rs 2 lakh and Rs 10 lakh per annum, which is close to the World Bank definition of middle class, at 28.4 million by 2009-10. The number of such middle-class households was 4.5 million in 1995-96 and 10.7 million in 2001-02. The report said that two-thirds of the Indian middle class is to be found in urban India and that trend has continued in the last 15 years also. India has one of the highest savings rates in the world, with savings constituting an estimated 36% of the GDP.

Title MISLEADING !!!!!

The total population of India is more than 1 billion people and there is NO WAY that the country has more rich than poor !!!

If the "HYPE" of India having more rich people than poor people is true then India MUST PROVE it to the world that the total number of rich people is more than 500 million.

 

[Avatar]

I know from chinese journals India has large number of middle-class people several years ago,but from photos chinese visitors taken we can see India showing its poor,maybe streets view make Chinese feel India is backward like us.

How can you judge from photos of tourists ? Indian culture is different. Most people prefer to save their wealth and spend only what is required. Most Indian households also have gold, ornaments, etc that are not accounted for and income is mostly understated for tax evasion purposes. We are used to living simple lives in underdeveloped conditions and some foreigners really love the poverty here rather than the richness.. maybe it makes themselves feel better. We value traditions, culture, relationships more than the roads and buildings. Just give us some more time.

 

[punjabimunda]

good news 150 million households considering an average of 3 ppl per household, that means we have atleast 450 mill ppl who can buy house, cars, mobile phones, invest and create money.

it will be interesting to see where do we go from here. with good policies we can be on top of world in just 2 decades. with morons in the govt this population will be highly disappointed. keep in mind indian middle class is far behind western middle class. we have a long way to go. nothing to be proud off.

Title MISLEADING !!!!!

The total population of India is more than 1 billion people and there is NO WAY that the country has more rich than poor !!!

If the "HYPE" of India having more rich people than poor people is true then India MUST PROVE it to the world that the total number of rich people is more than 500 million.

did u understandd what the article said??? and economic times is one of the top economic news sites of india.

 

[Vibs]

I know from chinese journals India has large number of middle-class people several years ago,but from photos chinese visitors taken we can see India showing its poor,maybe streets view make Chinese feel India is backward like us.

Well the journals do show ground truth but its the interpretation that matters. As in every densely populated region, even if there are 500 non poor people to 100 poor people on the street, the 100 tend to stand out like a sore thumb. That's exactly what you see in Indian cities and towns.

Title MISLEADING !!!!!

The total population of India is more than 1 billion people and there is NO WAY that the country has more rich than poor !!!

If the "HYPE" of India having more rich people than poor people is true then India MUST PROVE it to the world that the total number of rich people is more than 500 million.

Try reading the article before commenting Hafizz.

 

[joekrish]

Its more our infrastructure that is poor not our people, poor planning of cities I guess.

 

[Ottoman-Turk]

i never even read this but its so funny , is that why indians flow into UK every second

India has more rich households than most European nations.

India has more rich households than most European nations - Economic Times

Billionaires by country



Rank Country/Region Number of billionaires[1] Share of
world total (%) Billionaires per 10M Category
— World total 1210 100.0 1.7
1 United States 412 34.0 13.2 American billionaires
2 People's Republic of China 115 10.6 0.9 Chinese billionaires
3 Russia 101 8.3 7.1 Russian billionaires
4 India 55 4.5 0.5 Indian billionaires
5 Germany 52 4.3 6.4 German billionaires
6 Brazil 40 2.5 1.6 Brazilian billionaires
7 Turkey 38 3.1 5.2 Turkish billionaires
8 Hong Kong 36 3.0 51.0 Hong Kong billionaires
9 United Kingdom 33 2.7 5.3 British billionaires
10 (tied) Japan 26 2.1 2.0 Japanese billionaires
10 (tied) Indonesia 26 2.1 1.08 Indonesian billionaires

india billionaires per 10m is lowest on list with 0.5 . Its good to see Turkiye there 7th on list

 

[Hello_10]

You are right, 1.8 Lakh per annum can be called as entry or lower middle class.

But its appreciable that people are mobilized from poverty levels to middle class.

We should increase the pace even faster mobilisation.

one day I calculated over 341mil Upper Middle Class in India as below:

http://www.defence.pk/forums/world-...g-problem-indias-democracy-2.html#post2952121

 

[lightoftruth]

congs hope more and one day no poor in S.ASIA at all .

poverty not poor

 

[Nair saab]

When the Government ranks the people earning of RS 35 above Poverty line i am just Wondering what would be the Earning of Middle Class & Lower Middle Class class...

Forget about all this what would be the earning of People Below Poverty line i Guess 10RS per day which is 35% according to Government... What can a Person eat with 10 ...1 rupee Coin even beggar earns more than that... Does the Government mean 35% of people in India has a Life worser then Beggars...

In its report, "How India Earns, Spends and Saves", released on Saturday, the NCAER estimated that despite the economic slowdown of the last three years, the number of high-income households should have reached 46.7 million by March 2010, exceeding the 41 million households counted as low-incomes.

So the Calculation is not even Full Proof... Nice Congressi Propaganda...

65.2 million households were classified as low-income or earning less than Rs 45,000 per year.

LOL what a Joke 45000/ year ... which means person earning 3750 RS per Month is a Lower middle Class person