Infographics 2023

Estimates of households' pooled income, expenditure and saving

Rajesh Shukla

The Middle-Class category, comprising 432 million people whose annual household income is in the Rs 5 lakh to Rs 30 lakh range has a total household income of Rs 84,120 billion, and spending of Rs 62,223 billion in 2020-21. The Middle Class saved about Rs 11,774 billion during 2020-21. As a group, the household income is more than twice the earnings of the Rich category (56 million people, earning at an average annual rate of more than Rs 30 lakh) pegged at Rs 38,239 billion. In spending terms, the Middle Class spends a little less than three times that of the Rich category.