Consider these. A comparison of disparity in income during AY15 and AY24 shows that there is a clear rightward shift in the income distribution curve signifying people in lower income brackets are increasing their income to converge towards their share in population.
The study shows that there has been a cumulative 74.2 per cent decline in income disparity coverage for those earning up to Rs 5 lakhs. This, in turn, shows the continuous efforts of the Centre are reaching the bottom of the pyramid that is leading to an increase in the income of 'lower income group' people.
Granular analysis of a recent study by the SBI Economic Research wing indicates the shifting of the middle class in India from an income range of Rs 1.5-5.0 lakh in AY14 to Rs 2.5-10.0 lakh in AY24. Even the quantum of 'crorepati' taxpayers rose 5x to nearly 2.2 lakh in AY24 (against 0.4 lakh in AY14).
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Will Dollar Imperialism Survive Under Trump?
Dollar imperialism is the force that backs Uncle Sam's role as the world's policeman, ensuring that the U.S. maintains its influence over global trade, finance, and geopolitics.
Elon Musk Praises India's Electoral System, Takes Dig At Counting In US
Tesla CEO and American billionaire Elon Musk, who is a close aide of US President-elect Donald Trump, praised India's electoral system for its remarkable speed in delivering results in a single day and took a dig at counting of votes in the US since California is still yet to declare results of the presidential polls.
Formula 1: Verstappen claims fourth drivers' title
Red Bull's Max Verstappen sealed the Formula 1 Drivers' Championship for the fourth time with an assured drive to fifth place during the Las Vegas Grand Prix even as pole-sitter George Russell and the charging Lewis Hamilton earned a one-two finish for Mercedes.
I-League: Real Kashmir open account with win against Rajasthan United
Real Kashmir began their I-League 2024-25 season with a 2-0 victory over Rajasthan United FC at the TRC Ground on Sunday.
IPL 2025 auction: Rishabh Pant becomes most expensive player
Star India wicketkeeper-batter Rishabh Pant became the most expensive player in the history of the Indian Premier League (IPL), being bought by Lucknow Super Giants (LSG) for a massive Rs 27 crores during the ongoing Indian Premier League (IPL) mega auction at Jeddah on Sunday.
Unholy nexus against India
The volatility is almost synonymous with the northeastern region of India. This is not merely internal resentment but also a threat from external and transborder elements as well.
BGT: Jaiswal, Kohli tons set up India for emphatic win over Oz
Captain Bumrah, Mohammed Siraj reduce Australia to 12/3 inside 26 balls
Startup Corner: ‘All my zero chemical products are custom made, as per skin type of customer’
Like many other women entrepreneurs, she also had to break glass ceilings to reach where she is today. She had to face more challenges than one, including societal expectations, gender biases, limited access to resources or networks, access to funding, and last but not least, balancing work with household chores.
20 people killed in IO days, AF SPA back, NPP withdrawssupport; Manipur mess now murkier
After nearly 20 months of runaway violence in an Indian state called Manipur, where the writ f the state does not seem to extend beyond the 1 0-kilometre square of the capital, Imphal, and more than 250 people have been killed, 60,000 rendered homeless, and thousands of houses demolished and erased from the face of the earth, Manipur is back in the news once again.
From poll impact to IPOs: Key things to watch this week on Dalal Street
The GDP growth for July-September 2024 quarter is expected to be a tad lower than the 6.7 per cent growth seen in June 2024 quarter
