Middle Class in India
Middle Class in IndiaAsian Development Bank 2010 Report
1. Vast majority of this middle class earns between Rs 1,000 and Rs 2,000 per person per month.
2. Only 0.0009% of Indians earn more than Rs 10,000 per month.
3. India will have a billion strong Middle Class by 2030.
4. The ADB report defines the middle class as those earning between $2 and $20 per person per day, measured in international dollars, ie adjusted for purchasing power parity. The ADB splitted the middle class into three sub-sections: lower middle class ($2 - $4), middle middle ($4 - $10) and upper middle ($10 - $20).
5. The vast majority of the Indian middle class 82% of it, or 224 million people - however, fit into the first category.
6. Since $1 PPP is Rs 17.256, this means that the vast majority of the Indian middle class earns between Rs 1035 and Rs 2070.
7. The ADB report shows that middle-class Indians systematically define themselves as poorer than they actually are in surveys.
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