Devesh Kapur is the Starr Foundation South Asia Studies Professor and Asia Programs Director at the Paul H Nitze School of Advanced International Studies (SAIS) at Johns Hopkins University, Washington, DC.
“According to the economist Nancy Birdsall, a daily income of $10(₹64.66) or above (in purchasing power terms) cut-off is the threshold for an ‘income-secure’ middle class.”
“According to the economist Nancy Birdsall, a daily income of $10(₹64.66) or above (in purchasing power terms) cut-off is the threshold for an ‘income-secure’ middle class. She estimated in 2015 that just 2.6 percent of all Indians would qualify under such a definition.”
Pretty absurd and baseless thing to say when even the government is clueless about the income generation of vast majority of Indians. If you want to judge India’s middle class look at its consumption while considering a few unique characteristics such as the household size, average age, penchant for savings and investment in less traceable items like real estate or gold etc.
28% of US households are single person against 4% of Indian households. Now put it in the context of automobile sales. Nearly 10 million passenger vehicles have sold in the past 4 years, along with 65 million two-wheelers.
“According to the economist Nancy Birdsall, a daily income of $10(₹64.66) or above (in purchasing power terms) cut-off is the threshold for an ‘income-secure’ middle class.”
Wouldn’t $10 equate to ₹646 rather than ₹64.6?
“According to the economist Nancy Birdsall, a daily income of $10(₹64.66) or above (in purchasing power terms) cut-off is the threshold for an ‘income-secure’ middle class. She estimated in 2015 that just 2.6 percent of all Indians would qualify under such a definition.”
Pretty absurd and baseless thing to say when even the government is clueless about the income generation of vast majority of Indians. If you want to judge India’s middle class look at its consumption while considering a few unique characteristics such as the household size, average age, penchant for savings and investment in less traceable items like real estate or gold etc.
28% of US households are single person against 4% of Indian households. Now put it in the context of automobile sales. Nearly 10 million passenger vehicles have sold in the past 4 years, along with 65 million two-wheelers.