Middle Income: More Promise Than Reality
India: Middle Income
Based on a multi-year panel survey (Centre for Advanced Study of India), researchers Devesh Kapur and Milan Vaishnav have reported that about half the Indian population in practically any income bracket – urban, rural, lowest-income, highest-income – all self-identified as middle class. But in contrast to the self-identification, 95% of India's 1.2 billion citizens still qualify as poor or low-income. Only 2% of the country's population falls into middle-income zone, compared to 13% of the globe.
What/Who Is Middle Income?
A Pew Research Center study divides the population in each country into five groups – poor, low income, middle income, upper-middle income, and high income – based on a family’s daily per capita consumption or income. To exit poverty, the minimum daily per capita income of $2 must be exceeded. And to attain middle-income status, the threshold at $10, which is a practice that is gaining acceptance among economists, must be exceeded. These thresholds are expressed in 2011 prices and 2011 purchasing power parities.
Global population and their income or consumption:
India in comparison with the world:
Why The Middle Matters
According to the U.S. National Intelligence Council (2012), as people are able to purchase and save more, they will be motivated to push for social and political changes that preserve or advance their long-term interests.
Conclusion
In India, the Middle-Income is more promise than reality. While its northern neighbor, China, has witnessed its middle-income proportion go up from 3% in 2001 to 18% in 2011.
REFERENCES
A Global Middle Class Is More Promise than Reality.
Everyone in India thinks they are 'middle class' and almost no one actually is
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