Average Income

The majority of housholds with an annual income of Rs 5 lakh and above are concentrated in the top 20 per cent, or about 150, districts in the country, a report by MapmyIndia-backed data analytics firm ClarityX said on Tuesday. The ClarityX District Potential Index 2024 Report based on MapmyIndia data repository and government data sources, found that luminosity across the county grew significantly from 17 to 30 per cent in last four years. "60 per cent of households with annual income above Rs 5 lakh are in the top 20 per cent (about 150) districts of India, and two-third of the total districts above All-India District median are in the western region -- which also has the highest share of fastest growing districts," the report said. The report has measured growth of districts based on a district potential index (DPI) score covering socio-economic indicators like income distribution, social impetus like healthcare, education facilities per capita, infrastructure availability, ...

A Redseer survey on low to middle income households found that 65% respondents relied on family and friends for financial support, citing medical emergencies as a major cause for savings depletion

India has emerged among top countries with high income and wealth inequality but the share of the population living in multidimensional poverty fell from 25 to 15 per cent between 2015-16 and 2019-21, the UNDP said in a new report. The 2024 Asia-Pacific Human Development Report, launched on Monday, paints a qualified picture of long-term progress but also persistent disparity and widespread disruption, foreseeing a turbulent development landscape and urgently calling for new directions to boost human development. In India, between 2000 and 2022, per capita income soared from USD 442 to USD 2,389. Whereas, between 2004 and 2019, poverty rates (based on the international poverty measure of USD 2.15 per day) plummeted from 40 to 10 per cent. Titled Making our Future: New Directions for Human Development in Asia and the Pacific', the new report argues that unmet aspirations, heightened human insecurity, and a potentially more turbulent future create an urgent need for change. Moreover,

The income gap between states is growing and the pain of inflation is worse for those falling behind

Students joining a professional course at a top-notch college will find it easier to get approval

There was also a significant rise in number of people who declared their income between Rs 10 lakh and Rs 1 crore, data from the Finance Ministry showed

"You need the productive growth because it's the only way in which incomes are going to grow but you need a lot more job growth and it can be achieved," he said.

Fuel taxes give a bonanza to the government, but also dent the affordability for low income earners

More than 15 million Indians lost their jobs in May alone; legions of them see their economic toehold ripped away in lockdowns.

Switzerland, where the average wage converted into rupees amounts to Rs 4,49,000 ($5,989), topped the ranking, while in Cuba the average wage is the lowest at Rs 2,700 ($36)

Income skew has risen, with average annual income of I-T filers in the lowest slab declining by Rs 20,000, and average crorepati income seeing an incremental income of Rs 1 million in two years