Pakistan Middle Class Bigger & Wealthier Than Indian Middle Class

[INDIAISM]

Riaz sahab

I have told you in the past that on one hand Pakistan was always considered as a place of royal people and full of culture even 5000 years back while india only with poverty and backwardness

Sorry but it will take generation and may take 4-5 centuries for indian society to give up the poverty culture.

So Indians might be having the per capita of qatar sometime later in this century but still we will call them poor?why?because poverty has become integrated part of indian society.

Please don't compare Pakistan with india on poverty.thanks

Name even a single person In the world living or dead who even knew about the place called pakistan even 80 years ago forget about 5000 years...

 

[xyxmt]

BINGO

dont you loose hope, its collapsing otherwise many Indian will die of heart diseases

and where are these stats coming from? your behind?

just for starter, if everyone is willing to compare poverty between countries why not compare affluent people as well? they are also part of the country. aren't they? Shall we start with millionaires and billionaires?

oops 505 error no billionaire found in pakistan

there is no declared millionaire either
even our PM takes rs 5000 a month stipend from his son

Just tell me how much people pay tax in Pakistan ? Lel

zero, for you jero

 

[Ragnar]

These kinds of comparisons are pathetic and must stop. It is like watching 2 beggars fighting on who has one rupee extra. Neither country has truly reached its potential, and the lot of blame belongs with the leaderships of both countries in the last 60 odd years.

 

[CrazyRaju]

There are many ways one can perceive the middle class strength of a nation

• Number of Cars getting purchased
• Number of Laptops/Computers getting purchased
• Number of people travelling through Air
• Number of people owing a home/Apartment in Towns and bigger cities

You need not be a super duper economist to get this feel - (Of course China is off the charts in the above. we need to work harder, smarter and be less selfish)

 

[Sky lord]

Pakistan's middle and upper middle class are generally rich(tax dodgers) compared to its government which begs internationally. Indian people are maybe poorer but their government is filthy rich.

I suspect this has more to do with remittances coming in from the gulf and the UK. Remittance money has a way of targeting precisely the people who need it the most. Pakistan has a huge percentage of its population working abroad and sending money home.

Kerala in India has a similar proportion of gulf émigrés as Pakistan and within one generation the state is middle class despite having no real economy and having terrible governments in place.

 

[cloud_9]

Eh!

Haq's Musings: Wealth Report: Pakistan Middle Class Larger & Richer Than India's

Pakistan’s middle class consists of over 6.27 million adults, according to wealth criteria used by Credit Suisse in its Global Wealth Report 2015. It represents 5.7% share of Pakistan’s total adult population of 111 million, almost twice as large as India’s middle class made up of 3% of its adult population based on the same criteria.

 

[Zibago]

nopes sir... . come out of propaganda... ethnicity of IVC has NOT been completely found yet... most accepted theory is that it is a proto dravidian civilization.... a sizable of historians feel only Brahui people n mleccha, the only dravidian speaking people in Pakistan are their descendents....
and sir rig veda wasn't written in IVC.... The earliest text were composed in greater Punjab (northwest India and Pakistan), and the more philosophical later texts were most likely composed in or around the region that is the modern era state of Haryana.
@scorpionx @Joe Shearer @levina

They were balochs or brahuis
Mehrgarh - The Lost Civilization - Featured Article

 

[RiazHaq]

Pakistan's middle and upper middle class are generally rich(tax dodgers) compared to its government which begs internationally. Indian people are maybe poorer but their government is filthy rich.

Total tax-GDP percentage in Pakistan is 9%. It's 12% in India.

3 reasons why India's tax-GDP ratio has fallen - Rediff.com Business

Indian government is not rich...it has the same problems as Pakistan govt.

India runs huge twin deficits year after year. Indian borrows heavily to spend and its runs current account deficits.

What helps India is western money inflows in the form of FDI and loans. Indian economy can not survive without it.

India runs massive current account deficits. Its imports far outstrip exports year after year. According to the Reserve Bank (RBI) data, in the April-December 2014 period of last fiscal, India's current account deficit stood at $31.1 billion or 2.3% of GDP.




In spite such large recurring deficits, India has built up over $300 billion in foreign exchange reserves. How does it do it? The simple answer is: Foreign money inflows in the form of debt and investments mainly from the West keep the Indian economy afloat.


Sources of FDI in India Source: Financial Express
These inflows have dramatically increased with western support for India in the post Cold War world. Here's how Indian journalist Pankaj Mishra explains the larger western interest driving this phenomenon:

"Seen through the narrow lens of the West’s security and economic interests, the great internal contradictions and tumult within these two large nation-states (India and Pakistan) disappear. In the Western view, the credit-fueled consumerism among the Indian middle class appears a much bigger phenomenon than the extraordinary Maoist uprising in Central India".
Here's how the Asian Development Bank (ADB) describes the rising inflows of foreign, mainly western, capital into India:
"Gross capital flows have increased nearly 22 times from $42.7 billion in 1991-92 to over $932.3 billion in 2010-11. As a share of GDP, this amounted to an increase from 15.5% in 1991-92 to 55.2% in 2010-11. Much of the increase in financial integration occurred between 2003-04 and 2007-08. Given the impressive economic performance indicated by close to 9% growth rate, higher domestic interest rates and a strong currency, India's risk perception was quite low during 2003 to 2007. Furthermore, this period was associated with favorable global conditions in the form of ample liquidity and low interest rates in the global markets—the so-called period of Great Moderation."

Many other economies have been growing faster and producing higher investor returns than India. So the returns do not justify the increased capital flows. Such flows are driven much more by the changing geopolitics of South Asia region and the world since the end of the Cold War in early 1990s. Without these inflows, Indian economy would collapse and India would be at IMF's door seeking last resort loans.

Lesson: Geopolitics drive economy. It's the reason for over a trillion dollars of western capital flow into India since the end of the Cold War. It also explains China's massive $46 billion investment commitment in Pakistan agreed during President Xi Jinping's state visit to Islamabad.


Haq's Musings: Can Indian Economy Survive Without Western Money?

 

[Curious_Guy]

These comparisons mean nothing , both nations are stuck at a place , look around people ask your self . Still many women with infants sleep on foot paths, there is no traffic signal without a beggar , child labours everywhere . India is same . Only a few elites rule both countries and we here fight each other comparing each other

 

[Foxtrot-Bravo]

Its like winning in the end

 

[JOEY TRIBIANI]

Do agree .as my father's cousins live in delhi and my grandfather move to Pak with 200 rs only . now we are way richer thn them.

 

[Dragon4]

Haq's Musings: Wealth Report: Pakistan Middle Class Larger & Richer Than India's

Pakistan’s middle class consists of over 6.27 million adults, according to wealth criteria used by Credit Suisse in its Global Wealth Report 2015. It represents 5.7% share of Pakistan’s total adult population of 111 million, almost twice as large as India’s middle class made up of 3% of its adult population based on the same criteria.

Average ($4,459) and median ($2,216) wealth figures for Pakistani middle class adults are higher than average ($4,352) and median ($868) wealth figures for their Indian middle class counterparts. It's a consequence of lower income wealth inequality in Pakistan compared to its neighbor. For comparison, only 1.1% of Bangladesh adult population qualify as middle class. Their average wealth is $2,201 and median wealth $1,102 per adult.


Pakistan Wealth Source: Global Wealth Report 2015 Via Express Tribune
Credit Suisse's report estimates Pakistan's total private wealth in mid-2015 at $495 billion, Bangladesh's at $237 billion and India's at $3.45 trillion.

Credit Suisse said Pakistan's middle class is the 18th largest and India's 8th largest in the world. The report says 14% of world adults qualify as middle class in 2015 and they own 32% of the world's wealth. 6.7 million Pakistani adults make up 0.9% of the world's middle-class adult population. China tops the list with 108.7 million, followed by the United States 91.8 million and Japan 62 million.

A little more than 90% Pakistani adults had wealth less than $10,000 in 2015. The share of Pakistani adults with wealth between $10,000 and $100,000 in 2015 was 9.8% while only 0.1% adults owned wealth in the range of $100,000 and $1 million, the report revealed.

Other studies based on income criteria of $2 or more per day put Pakistan's middle class at 55% of the population. A 2010 ADB report titled "Asia's Emerging Middle Class: Past, Present and Future" report put Pakistan's middle class growth from 1990 to 2008 at 36.5%, much faster than India's 12.5% growth in the same period. Other reports have indicated Pakistan's median per capita income is higher than both India's and Bangladesh's.

Even though Pakistan's GDP growth has been relatively low compared to India and Bangladesh in recent years, the country's middle class has continued to grow rapidly. It's explained as follows: It's not the overall GDP growth and average per capita income and wealth increases but the median per capita income and wealth growth that tells you how the GDP gains are shared among the population.

Data shows that economic gains in Pakistan are shared better than India and Bangladesh because of lower inequality. Income poverty rate (those below $1.25 per capita per day) in India is 33% and Bangladesh 43% versus 13% in Pakistan, according to WB data on povcalNet. Gini Index for India is 33, Pakistan 29 and Bangladesh 32, indicating that Pakistan has lower inequality.

Related Links:

Haq's Musings

Pakistan's Middle Class Grows to 55%

Upwardly Mobile Pakistan

Median Per Capita Incomes of Bangladesh, India and Pakistan

India and Pakistan Compared in 2014

Bangladesh-Pakistan Comparison in 2012

Modi's Superpower Delusions


Haq's Musings: Wealth Report: Pakistan Middle Class Larger & Richer Than India's

i dont understand.. " Pakistan Middle Class Bigger & Wealthier Than Indian Middle Class "
How is it bigger and how is it wealthier?
By comparing what stats?

 

[mad_max]

Bitter truth for Pakistanis

 

[Brickwall]

You cannot see any booka-nanga on the streets of Pakistan as comparing, you see everywhere in India.

Yes true.. we can only find terrorists on the streets there...

 

[farhan_9909]

Name even a single person In the world living or dead who even knew about the place called pakistan even 80 years ago forget about 5000 years...

The people of Pakistan are the history of Pakistan.And the people of IVC are the same people living in Pakistan today