How Indian middle-class families are becoming Rich!...🇮🇳💰

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The share of middle class,with an annual household income of RS 5 - 30 lakh, more than double from 14% in 2004-05 to 31% last year and is projected to rise to 63% by 2047 according to a survey economic research outfit Price (people research on India's consumer economy)

In 24 years India's super rivh household see 18-fold rise!

  •  Maharshtra is the Richest state with 6.4 lakh Super-Rich households earning over 2 Crore per annun in 2021, according to latest survey results by PRICE
  • Delhi was 2nd with RS 1.81 lakh households 
  • Gujrat 3rd with 1.41 lakh 
  • Tamilnadu 4th with 1.37 lakh
  • Punjab 5th with 1.01 lakh households     
According to report "India's rise of middle-class." 

It showed that the number of "super-rich" In the country has risen from 98000 in 1994-95 to 1.8 million households in 2020-21 . Surat and nagpur have the highest growth in the high income segment.

According to the report, the middle class will grow to 63% in 2047.



The survey results showed that the "destitute" Hardly buys a car. Less than a five out of every 10 "aspire" Households has an automobile in 2020-21.

In the "seekers" Category with income between RS 5 lakh and RS 15 lakh a year, almost 3 out of every 10 households have a car, in the "Rich" Or those with have annual households income of over 30 lakh, every households owns a car, in the category of category of "Crorepatis' there are almost 3 cars per family.

Similarly, in case of Air-condotioners (AC),while the 'distitude' household have non, "Aspirers" Two out of every 100 and about half of the "Super-rich" have AC's, according to the survey.                                                   

The reports based on PAN-india surveys provides of an overview of an country's income demographic by states, urban and rural areas, and geographic clusters within each of eight income Categories. It also details the rise of the cities and India's richer classes and explains how these cities are home to growing number of rich indians.                                                                      

It covers the rise of 63 cities with a population of over one million each

 

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