A big news for the people of India, according to the reports of the National Council of Applied Economic Research (NCAER), India has more rich people then poor. The number of high-income households in India has overlapped the number of low income. NCAER, released a report on Saturday named "How India Earns, Spends and Saves".
Number of high-income households in India, increased
The report estimates that, inspite of the economic slowdown during last three consecutive years, the number of high income holders has reached 46.7 million by March 2010. It has overlapped the 41 million households counted as low-incomes. It is a remarkable achievement in this decade. The report of NCAER, figures out that the households earning between Rs 45,000 and Rs 1.8 lakh per annum reached sharply from 109.2 million to 140.7 million in just a decade. The savings rate of India is the highest in the world.
In addition to it, a fresh report says that the slowdown had its most effect on middle income households,in absolute terms the number of middle class households rose from 135.9 million in 2007-08 to 140.7 million by 2009-10.But, in marginally terms it fell from 62% to 61.6% in the same period.
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