Question

More information of standard of living of 20 families

Answer 1

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.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.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.

Indian middle class is 3% or 40 million of Indian population. Another estimate put the Indian middle class as numbering 475 million people by 2030. It is estimated that average real wages will quadruple between 2013 and 2030.

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