Collect the data about the quality of standard of living of 20 families conclusion
Answers
Standard of living in India varies from state to state. With one of the fastest growing economies in the world, clocked at a growth rate of 7.6% in 2015, India is on its way to becoming a large and globally important consumer economy. According to Deutsche Bank Research, there are between 30 million and 300 million middle-class people in India.[1] If current trends continue, India's share of world GDP will significantly increase from 7.3 in 2016 to 8.5 percent of the world share by 2020.[2] In 2011, less than 22 percent of Indians lived under the global poverty line, nearly an 8 percent reduction from 29.8 percent just two years prior in 2009.[3]
Indian middle class is 3% or 40 million of Indian population.[4] Another estimate put the Indian middle class as numbering 475 million people by 2030.[5] It is estimated that average real wages will quadruple between 2013 and 2030.[6]
The standard of living in India shows large disparity. For example, there is widespread poverty in rural areas of India, where medical care tends to be very basic or unavailable, while cities boast of world class medical establishments. Similarly, the very latest machinery may be used in some construction projects, but many construction workers work without mechanisation in most projects.[7] However, a rural middle class is now emerging in India, with some rural areas seeing increasing prosperity.[8]