For middle class....!

 𝐈𝐌𝐏𝐎𝐑𝐓𝐀𝐍𝐓 𝐈𝐍𝐅𝐎 𝐎𝐍 𝐌𝐈𝐃𝐃𝐋𝐄 𝐂𝐋𝐀𝐒𝐒 

𝐌𝐨𝐝𝐢 𝐡𝐚𝐬 𝐝𝐨𝐧𝐞, 𝐰𝐡𝐚𝐭 𝟏𝟑 𝐏𝐌𝐬 𝐛𝐞𝐟𝐨𝐫𝐞 𝐡𝐢𝐦 𝐜𝐨𝐮𝐥𝐝𝐧’𝐭 

▪️PM Modi has taken us back to the pre-British Raj 

• Average middle class income as a base is ₹2.6 lakh per year or ₹22,000 per month

• Which makes share of India’s middle class in national income at levels of 1820, even before the colonial rule began 

• The rich are today richer than in 1820

• The poor have drowned deeper into poverty

▪️India has one of the lowest wages in the world - skilled & unskilled

• ILO data shows average hourly wage of an Indian worker 5th lowest in the world 

• Even someone with an advanced degree and doing a skilled job paid world’s seventh lowest wages 

▪️What is Middle Class spending on?

• A decade ago largest share of urban non-food expense was education 

• Now it’s transportation, which is just going to places 

▪️Middle Class India saving less, borrowing more 

• Indian households savings in 2011-12 used to be 8X of their debt 

• Now, Indian households savings 4X of their debt 

▪️How long would it take to pay for a home?

Average Middle Class income as a base ₹22,000 per month 

Home

• Average price of a house in Delhi ₹10,000 sq ft

• Basic 1000 sq ft house to cost ₹1 crore

• That’s about 38 years of salary 

▪️How long would it take to pay for a car? An iPhone?

Car

• Average car price ₹13 lakh 

• 5 years’ salary to pay for 

iPhone 

• Cheapest iPhone ₹60,000 

• 3 months’ salary

Source: Times of India