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LATEST NEWS UPDATES | India's richest 20% account for 45% of income -Pramit Bhattacharya

India's richest 20% account for 45% of income -Pramit Bhattacharya

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published Published on Dec 3, 2016   modified Modified on Dec 3, 2016
-Livemint.com

Middle India is largely rural and uneducated, shows the ‘Household Survey on India’s Citizen Environment & Consumer Economy’

New Delhi:
India’s richest quintile accounts for 45% of aggregate household disposable income while the poorest quintile earns barely 7% of the aggregate income pie, according to the latest data from a nationally representative survey conducted this year.

The Household Survey on India’s Citizen Environment & Consumer Economy (ICE 360° survey), covering 61,000 households, is one of the largest consumer economy surveys in the country since the National Sample Survey Office (NSSO) conducted the consumer expenditure survey in 2011-12.

The survey results show that households in the top quintile earn nearly four times as much as households in the bottom quintile. But given that poorer households also tend to be bigger, the difference in per capita incomes is greater. The per capita income of the top quintile, at Rs7,974 per month, is nearly 6.5 times that of the bottom quintile. Given the lower income and the bigger household size, poorer households end up spending most of what they earn. The poorest quintile is able to save just 10% of household earnings. In contrast, the top quintile is able to save 47% of household earnings, the survey shows.

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Livemint.com, 2 December, 2016, http://www.livemint.com/Politics/AvHvyHVJIhR0Q629wkPS5M/Indias-richest-20-account-for-45-of-income.html


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