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Income inequality in India refers to the unequal distribution of wealth and income among its citizens. According to the CIA World Factbook , the Gini coefficient of India, which is a measure of income distribution inequality, was 35.2 in 2011, ranking 95th out of 157. [ 2 ]
World Bank (2021) poverty line 1.90 (PPP $ day) 6 84m [7] lower middle-income line 3.20 (PPP $ day) 26.2 365m [7] upper middle-income line 5.50 (PPP $ day) 60.1 838m [7] Asian Development Bank (2014) poverty line $ 1.51 per person per day [8] Tendulkar Expert Group (2009) urban poverty line Rs 32 per person per day consumption [9] rural poverty ...
With rising economic growth and India's income is also rising rapidly. As an overview, India's per capita net national income or NNI was around Rs. 98,374 in 2022-23. [1] The per-capita income is a crude indicator of the prosperity of a country. In contrast, the gross national income at constant prices stood at over 128 trillion rupees. [2]
The current total number of billionaires in India is peaking at 271, with 94 new billionaires added in 2023 alone, according to Hurun Research Institute’s 2024 global rich list published Tuesday ...
In 2014, the share of national income accruing to India's top 1% of earners was 22%, while the share of the top 10% was around 56%." [ 11 ] : 123 Quartz cited the report, "[S]ince 1980 the top 0.1% have captured as much income growth as the entire bottom half of world's (adult) population.
High income 33.7 2020 33.82 2021 Chile: South America: High income 43.0 2022 44.50 2022 44.8 2022 China: Eastern Asia: Upper middle income 35.7 2021 36.67 2020 Ivory Coast: Western Africa: Lower middle income 35.3 2021 37.17 2019 Cameroon: Middle Africa: Lower middle income 42.2 2021 46.64 2014 Democratic Republic of the Congo
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
The standard of living in India varies from state to state. In 2021, extreme poverty was reduced to 0.8% [1] and India is no longer the nation with the largest population living in poverty. [2] There is significant income inequality within India, as it is simultaneously home to some of the world's richest people. [3]