Write a short note on new middle class.
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The new middle class:
In case of India when the annual household income of a family ranges below ₹90000 then the particular family is considered as poor class.
If the annual household income of a family ranges between ₹90000 and ₹2lakhs in India then they are considered as low income class.
If the annual household income of an Indian family ranges between ₹2lakhs and ₹5lakhs then they are considered as Middle class group.
A strong middle class in society acts as a stable source of demand for most of the goods and services.
Learn More About the new middle class:
Conditions led to the development of a new middle class
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