Average Income Of Upper Middle Class Family In India

How a family should spend every month here s how much a household income of rs 1 lakh per month should be allocated under different heads.

Average income of upper middle class family in india. Let s take it one step deeper and look at various household sizes. The indian middle class constitutes 300 350 million of the population. This is the average monthly salary including housing transport and other benefits. Salaries vary drastically between different careers.

Let s explore the differences further. Salaries range from 8 080 inr lowest average to 143 000 inr highest average actual maximum salary is higher. The economists have used an income threshold that defines middle class people as those living on between 2 1 52 to 10 per person per day valued at 1993 purchasing power parity ppp dollars. The think tank defines the middle class as households that are earning two thirds to double the national median.

There is significant income inequality within india as it is simultaneously home to the some of the world s richest people. While the average income of a middle class household has been consistently increasing the means of investments are somewhat still the same. They are also taxed aggressively. The median income of the middle class by by household size.

Buy and maintain a car such as hyundai i10. Conversely the median net worth for the top one percent has performed extraordinarily well during the same time period. High incomes come and go. We looked at the spending pattern of the average middle class urban indian household and tweaked the formula to make it 60 20 20.

A family of 4 which can rent a 2 bedroom apartment in a average area of city. The average wages are estimated to quadruple between 2013 and 2030. The median net worth for the middle class hasn t changed for decades. Compare your own expense allocation to know where you stand.

Let s take the example of anurag sharma a 35 year old mba graduate who lives in mumbai with his wife sanjana 34 two daughters ten year old mansi and six year old sanvi parents and grandfather. Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings. Although making a high income is nice having a high net worth is more important.