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D.Muthukrishnan (Muthu), Certified Financial Planner- Personal Financial Advisor

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Poor Indians

Posted by Muthu on November 10, 2014

Uday Tharar (https://twitter.com/udaytharar) is an economist and keeps sharing lot of interesting and insightful data.

NSSO ( National Sample Survey Organisation) coming under Ministry of Statistics has provided the following data which was shared by Uday Tharar in a tweet today.

For purpose of conversion, I’ve assumed 1 USD= Rs.60

25 million people – 2.1% of India’s population earn more than $5250 (Rs.3.15 lakhs) every year.

23 million people  – 2% of our population earn between $3250 (Rs.1.95 lakhs) to $5250 (Rs.3.15 lakhs) every year

164 million people –  13.5% of our population earn between $1550 (Rs.93,000) to $3250 (Rs.1.95 lakhs) every year.

125 million people –  10.3% of our population earn between $1050 (Rs.63,000) to $1550 (Rs.93,000) every year.

874 million people –  72% of India’s population earn lesser than $1050 (Rs.63,000) every year.

When a nation’s per capita is around $5000, it is considered as a middle income country. Only 2.5% of us are in that slab. I sincerely hope this government would take lot of efforts to move us from a poor to a middle income country in next 10 years.

3 Responses to “Poor Indians”

  1. Probably the $5000 limit would raise till then 😉

  2. Litan said

    Applying PPP factor of 0.3 – About 17.5 % of Indians are middle income .

  3. ajay said

    The data seems to be about the salaried class. The data seems unrealistic compared to the home loan that is being paid by individuals in metros.

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