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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 line Rs 26 per person per day consumption [9]
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] Wealth distribution is also uneven, with one report estimating that 54% of the country's wealth is controlled by millionaires, the second highest after Russia, as of November ...
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 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.
Lower middle income 51.3 2018 51.27 2019 Albania: Southern Europe: Upper middle income 29.4 2020 29.42 2020 Andorra: Southern Europe: High income 27.96 2016 United Arab Emirates: Western Asia: High income 26.4 2018 25.97 2019 Argentina: South America: Upper middle income 40.7 2022 37.80 2022 Armenia: Western Asia: Upper middle income
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]
In economics, income distribution covers how a country's total GDP is distributed amongst its population. [1] Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. [2] [3]