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 November 01, 2024 edition of The Statesman.
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This story is from the November 01, 2024 edition of The Statesman.
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