India's Economic Strata

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This thread is pure gold, best to read this after a hard day's work
:food1:

rite is TR of Techenclave [south indian folks can relate to this]
 
Poverty in India

Despite significant economic progress, one quarter of the nation's population earns less than the government-specified poverty threshold of 12 rupees per day (approximately US$ 0.25). Official figures estimate that 27.5%[13] of Indians lived below the national poverty line in 2004-2005.[14] A 2007 report by the state-run National Commission for Enterprises in the Unorganised Sector (NCEUS) found that 77% of Indians, or 836 million people, lived on less than 20 rupees (approximately US$0.50 nominal; US$2 PPP) per day. [15]It is relevant to view poverty in India on a PPP basis as food etc. are purchased in Rupees. So the annual income of a family of four at US$2 PPP/day (current exchange rate of Indian Rupee ₹ 47 = US$1) would be Indian Rupee ₹ 137,240 (i.e. Indian Rupee ₹1.37 lakh). [16] According to a recently released World Bank report, India is on track to meet its poverty reduction goals. However by 2015, an estimated 53 million people will still live in extreme poverty and 23.6% of the population will still live under US$1.25 per day. This number is expected to reduce to 20.3% or 268 million people by 2020.[17] However, at the same time, the effects of the worldwide recession in 2009 have plunged 100 million more Indians into poverty than there were in 2004, increasing the effective poverty rate from 27.5% to 37.2%.[18]
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My friend is an MBA, when he got his first job (2 years back) he got 14 thousand in hand, his expenses on fuel only were around 7000 (car).:cool2:
 
Mephistopheles said:
15-40 Lacs per annum and you say middle class??!!??
Either you are bullshitting big time or Im poor :P

P.S IINM ~700 million people in India earn <700 per month which is 8.4k per annum
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Your numbers are totally wrong, get your facts right before putting such figures about India
 
Spectre said:
This thread is pure gold, best to read this after a hard day's work

:food1:

rite is TR of Techenclave [south indian folks can relate to this]
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buddy TR has courage and substance. what he talks makes sense most of the time. his antics are the ones that are funny :ohyeah:

_
 
Check online, over 125k Indians are millionaires.

And I bet that at least 25k+ are from Delhi, which makes it 0.5% of Delhi's families. And these families usually earn at least 1 cr annually or at least 50+ lacs.

I am not talking of the whole of India, I am only talking of developed parts like Delhi, Chandigarh, Mumbai etc.

And had it been for America, this would be the system

<$60k Lower class

$60-100k Lower Middle Class

$100-200/300k Middle Class(Depending on the area)

$200/300-500k Upper Middle Class

$500k+ Affluent

$1m+ Rich

$5m+ V Rich

And for India, you can make Affluent as 1 cr.

My definition of rich is somebody who can enjoy the same standard of living in every part of the world without any compromise on his luxuries.

An affluent person is at least an upper middle class person with reasonable standards even in the most expensive parts of the world.

And upper middle class is a person who can afford to buy brands like TH/CK/Davidoff(for coffee), pay 10-15k pm as pocket money to his children, spend 50+ lacs on each child's marriage etc.
 
My definition of rich is somebody who can enjoy the same standard of living in every part of the world without any compromise on his luxuries.

An affluent person is at least an upper middle class person with reasonable standards even in the most expensive parts of the world.

And upper middle class is a person who can afford to buy brands like TH/CK/Davidoff(for coffee), pay 10-15k pm as pocket money to his children, spend 50+ lacs on each child's marriage etc.
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The amount of bullshit you are spewing is directly proportional to your immaturity and stupidity

<$60k Lower class

$60-100k Lower Middle Class

$100-200/300k Middle Class(Depending on the area)

$200/300-500k Upper Middle Class

$500k+ Affluent

$1m+ Rich

$5m+ V Rich
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Oh Dear God! :O
 
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Can you even count the number of assumptions you have made and all the illogical reasoning?



rite said:
Check online, over 125k Indians are millionaires.

And I bet that at least 25k+ are from Delhi, which makes it 0.5% of Delhi's families. And these families usually earn at least 1 cr annually or at least 50+ lacs.

I am not talking of the whole of India, I am only talking of developed parts like Delhi, Chandigarh, Mumbai etc.

And had it been for America, this would be the system

<$60k Lower class

$60-100k Lower Middle Class

$100-200/300k Middle Class(Depending on the area)

$200/300-500k Upper Middle Class

$500k+ Affluent

$1m+ Rich

$5m+ V Rich

And for India, you can make Affluent as 1 cr.

My definition of rich is somebody who can enjoy the same standard of living in every part of the world without any compromise on his luxuries.

An affluent person is at least an upper middle class person with reasonable standards even in the most expensive parts of the world.

And upper middle class is a person who can afford to buy brands like TH/CK/Davidoff(for coffee), pay 10-15k pm as pocket money to his children, spend 50+ lacs on each child's marriage etc.
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He lives in a world of his own. Can't bring him to reality.

The definition of a millionaire is not by what he "earns" p.a., but by total financial assets. See here: Millionaire - Wikipedia, the free encyclopedia. Scroll down the page and you'll see that across India, there are 1,39,385 households worth more than $1 million and more in 2009 (Countries with the Most Millionaires 2010: No. 15: India - BusinessWeek). That's not what they earn per annum, but networth of households. If an average household has 4-5 members and even assuming all of them are millionaires by themselves, that makes it 6.5 Lakh individuals who form a handful of our nearly 120 crore population.

Besides, among the millionaire count, politicians, benamis and Govt officials do not make it. Not many of the politicians or their benamis even wear Jeans leave alone satisfy the definition of OP. May be he can call himself Jeanillionaire wanna be?
 
rite said:
An affluent person is at least an upper middle class person with reasonable standards even in the most expensive parts of the world.
And upper middle class is a person who can afford to buy brands like TH/CK/Davidoff(for coffee), pay 10-15k pm as pocket money to his children, spend 50+ lacs on each child's marriage etc.
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First bolded part: The standard of life for a middle class Indian is much more than that of a middle class european, as there is one defining factor that makes Indians lives much more comfortable, Kaam Waali Bai :P. Seriously, I'd rather earn 1/4th the money I could earn in Europe and still live life kingsize rather than stay in Europe and earn in euros and still clean my bathrooms myself :@.

Second Bolded Part:
What if an affluent person doesnt buy any of the luxury brands you mentioned above? Does that make him poor?
What if an affluent man doesnt have any kids to give PM to? Does that make him poor?
What if an affluent man doesnt want to spend 50 Lakh rupees on their child's marriage? Does that make him poor?

I doubt if you have even earned a rupee in your life but you talk about millions, billions and zillions.
Try and earn money in hundreds first, then we'll talk.
Rich spoilt trophy kids of their rich spoilt showoff trophy parents, if this is the young generation of India then India is doomed :(.
Now run along and get a life instead of spewing BS in online forums you little rut.
 
If these are the stats, we should be counted among the nations where poor are having broadband, sit on TE and talk about GPUs and android phones instead of wondering about roti kapda and makaan
 
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