By 2047, if political and economic reforms have their desired effect, the India income pyramid will have a smallish layer at the bottom comprising the Destitute and Aspirer groups, a huge bulge of the

98% of the top percentile own either a car or a two-wheeler, shows a PRICE survey on India's consumer economy...

The survey shows that the share of the top 1% in aggregate household disposable income is 6%. The share of the top 10% in the aggregate...

Top earners are likely to be better educated compared to others. Forty-six percent of breadwinners in the top percentile have at least a graduate...

Top earners are most likely to be salaried, or owners of non-farm enterprises, suggest the survey—44% of the top percentile and 40% of the top...

Urban India has been divided into four clusters: metros (population more than 5 million), boom towns (2.5- 5 million), niche cities (1-2.5 million)...

The proportion of top earners investing in equities and bonds, and purchasing insurance, is much higher than the all-India average. Seventy-two percent of the top...

The poor use India's massive public distribution system (PDS) for food grains much more than the rich, and rate the quality of grains more favorably than richer...

The super-rich approve of the Narendra Modi-led government more than the poor, finds the ICE 360 survey

The super-rich approve of the Narendra Modi-led government more than the poor, finds the ICE 360 survey

Average household income in India has increased around 12% since the COVID pandemic-induced fall, with the poorest seeing an over 75% jump, according to a survey by PRICE...

Post-pandemic, the poorest 20% households saw income levels shrink 52% from the 2015-16 level. These are the findings of the latest round of the ICE 360 Degree Survey by PRICE...

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...

The individual household level picture however shows the stark differences that exist between the lowest-income households and their more well-to-do counterparts. While the...

When it comes to the share of expenditure and savings to income, the Destitute households outspend what they earn (114 percent) but also save. The biggest savers are the Rich...

The narrowing income gap between different religious and caste groups highlights the positive impact of inclusive economic growth and effective government policies. The significant income growth....

The study is planned to undertake a nationwide biannual household survey for five consecutive financial years to collect the information on consumption of gold and jewellery and other related aspects.

The estimates of private final consumption expenditure (PFCE) which is a proxy for household consumption, is expected to rise in absolute terms to Rs 164 trillion in FY23 from Rs 143 trillion in FY22 and Rs 121 trillion in FY21.

India has been evolving as one of the world's most dynamic consumption environments and is expected to maintain steady, sustainable economic growth in the years to come.

Skilling has emerged as a buzz word in the policy environment. The thrust for a policy-backed Skill Development Initiative is a significant step towards realizing the potential of the Indian workforce by enhancing its skill-ability and thus employability.

DIGITAL INDIA has become the talk of the town in recent times. Indian Government launched the campaign to ensure all government services available to citizens via improved online infrastructure and increased internet connectivity.

An overwhelming majority, 87%, of people living in metros belong to the top two quintiles of India's income pyramid but even the richest among them consider themselves 'middle-class', says ICE survey

Rise of rurbanism One of the major reasons for the changing structure of rural India is the impact of urbanisation. Migration to the cities in search of work has primarily meant a two-way transfer of resources.

The so-called middle class, which is actually India's richest 20% of households, accounts for 36% of consumption expenditure...

Based on household-level data on occupation and income, a calculation for helping citizens get to their feet

A substantial share of the population is still at skill Levels 1 and 2 (86%), and is therefore earning comparatively much lower than those with skill Levels 3 and 4...

By applying the ISCO-08 concepts to the ICE360° Survey, and classifying skill levels, we can better understand the connection between earnings and quality of labour force...

A majority of Rich India considers itself to be middle class; a third of those actually in the middle of income distribution pyramid consider themselves to be poor...

Just as non-cash shouldn't mandatorily be imposed, neither should cash. Why has this not figured on a reform agenda between 2004 and 2014, or much earlier?...

Though the actual position will only be known at the end of the year, chances are the new black-money window IDS-2 will do well since, for those who have not already laundered their black money post-demonetisation, it would make more sense to give up 55-56% of it to the government instead of losing it all...

This is the season for quoting, and misquoting, Keynes. "When the facts change, I change my mind. What do you do, sir?" This is attributed to Keynes, though there is no actual evidence Keynes ever said, or wrote, this...

The discussion on the fall in employment after the November 8 demonetisation relies on anecdotal evidence. It is not backed by data...

Rural households collectively outspent their urban counterparts over the past year, according to data from a nationally representative consumer survey...

A fifth of bread-winners in India are salaried employees, a third are labourers, and a little less than half of bread-winners are self-employed, according...

98% of the top percentile own either a car or a two-wheeler, shows a PRICE survey on India's consumer economy...

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

For measuring the material well-being of bottom of the pyramid households, we need to follow an approach that takes into consideration both their income & expenditure...

While the government has announced a number of big impact schemes, the focus should now be on creating linkages between various departments and roping in stakeholders with different types of expertise...

In Indian context, two-wheeler is less of an automobile and more of an enabler which creates a virtuous cycle of increased mobility towards generating better livelihood...

Income, expenditure and saving-related indicators, when taken together, provide holistic insights into levels of household well-being...

Uttar Pradesh and Rajasthan, with a large population, are pulling down other north Indian states in terms of the general well-being status of households...

The socio-economic status of female-headed households is falling; they present a genuine case for affirmative action by state and central governments for improving their well-being...

For A Bindiyan Workforce. There is no denying that India's record on the gender equality front is nothing to be proud of...

Indian Prosperity depends on empowering its Labour Force. The goal of becoming a fully developed nation by year 2047 has been set by the government in no uncertain terms...

Mobility enabled by two-wheelers has a significant relationship with income inequalities...

The process of revitalising agriculture has begun. Now we must take action in a way that yields measurable outcomes and creates a virtuous cycle of demand, growth and prosperity...

The challenge for policy-makers is to develop a holistic approach that is flexible enough to accommodate the specific needs of different districts...

For every percentage point of GDP growth, there will be a spike in demand for consumer goods and services which, in turn, will boost investment, and the benefits of these will be felt across all sections of the income pyramid...

The Indian economy has come a long way, with the country's GDP crossing the $2 trillion mark in 2014. While it took us 60 years to hit the $1 trillion figure, we added the next trillion in just seven years...

Despite the constraints, it is not impossible to collect reliable data on income, expenditure and savings...

Political parties in several states are gearing up for Assembly elections and the Lok Sabha elections in 2024 too are not far away. It's not surprising then that many of them...

The right to resources is increasingly becoming the major talking point in the country. The tussle is about how this pie of resources can be cut up more equitably to benefit...

Post-Covid recovery of poor households has been faster than expected. But many still need a leg-up...

Middle-class households are already driving premiumisation. By 2031, there will be 75 million more of them. Including in developed rural areas. But here's why marketers can't take them for granted

The saving-earning-expenditure pattern of every city is different... Jaipur is ahead in spending, while Bhopal is saving half of its earnings; 90% of people in the country earn more than their expenses...

For every percentage point of GDP growth, there will be a spike in demand for consumer goods and services which, in turn, will boost investment, and the benefits of these will be felt across all sections of the income pyramid...

The Indian economy has come a long way, with the country’s GDP crossing the $2 trillion mark in 2014. While it took us 60 years to hit the $1 trillion figure, we added the next trillion in just seven years.

Despite the constraints, it is not impossible to collect reliable data on income, expenditure and savings. In recent times, there has been an increase in public expenditure...

The slogan for policy-makers this year should be Debate, Decide, Do and Deliver. From a social scientist’s point of view, understanding the body politic of the Indian populace and the roots of societal and economic...

During FY15, an average Indian household spent around Rs 6,400 annually on education, which is almost double the amount spent a decade ago. Over the last two decades, policy-makers...

Unlike many other food product categories, there is still scope for growth in protein consumption in large markets in India. The United Nations has declared 2016 as the International...

The informal sector faced a severe blow during the second wave of the pandemic, leading to a reduction in the number of units and workers. However, a gradual recovery was observed after the July quarter of 2021, according to the findings of an official survey reported by TOI. The annual survey of unincorporated sector enterprises (ASUSE) revealed the resilience of the informal sector, with the total number of establishments increasing from 5.8 crore in 2021-22 to 6.5 crore in 2022-23, marking a growth of nearly 5.9%.

Ever since the Covid-19 pandemic introduced the work-from-home routine, Ramesh Sharma (name changed on request), a corporate professional living in Delhi, started spending more on his food and groceries. Sharma, 45, has always been particular about the quality of his diet. But now, he buys more organic groceries and cold-pressed cooking oils and juices even though they are costlier and add to the general inflation in his food and grocery bill. Meanwhile, domestic worker Kusum is scouting for a second-hand refrigerator for her family of five. After multiple repairs, her fridge stopped working this summer. Kusum’s husband is a driver, but they don’t have Rs 10,000 for a new fridge. Her budget: Rs 3,000-4,000 for a second-hand one. With rising expenses, buying new appliances remains a dream.

The income gap between Hindu and Muslim families is decreasing rapidly. This difference between the families of both the communities has reduced by 87% in 7 years and is only Rs 250, which was Rs 1917 per month in 2016.........

This report explores the critical role of India's middle class in driving economic growth and business opportunities. With a substantial portion of the population falling into the Middle-Class category, their income, expenditure, and savings significantly impact the national economy. However, this segment faces challenges that need addressing to unlock its full potential. The report provides insights into the financial dynamics of the middle class, the challenges they face, government measures to support them, and the potential business opportunities arising from their growth.

This research report investigates the post-COVID economic recovery of Indian households, focusing on income distribution across different socio-economic strata. Utilizing data from the PRICE’s ICE 360 surveys, this study explores income trends from pre-COVID (2016), during COVID (2021), and post-COVID (2023) periods. The findings reveal a significant rebound in household incomes, particularly among the poorest households, suggesting a narrowing of income inequality. However, the report underscores the need for continued support and policy interventions to sustain and further this recovery.

In the past decade, India has experienced significant changes in its economic landscape, particularly in the distribution of income across various segments of the population. This policy brief examines these shifts from 2015-16 to 2022-23, highlighting a dramatic reduction in poverty, a decline in the lower middle-income class, and notable growth in the middle and upper middle-income classes. These trends reflect the impacts of economic policies, the COVID-19 pandemic, and subsequent recovery efforts. The analysis underscores the need for targeted policies to sustain economic mobility and inclusiveness. Recommendations include strengthening poverty alleviation programs, supporting lower middle-income class mobility, enhancing middle-income class resilience, fostering inclusive growth, encouraging high-income sector growth, and continuously monitoring and adapting policies to emerging economic trends.

This policy report examines the trajectory of income inequality in India from its independence in 1947 to 2023, drawing on household income surveys conducted by the National Council of Applied Economic Research (NCAER) and People Research on India’s Consumer Economy (PRICE). The analysis covers data from 1967-68 to 2022-23, revealing a complex landscape shaped by economic policies, demographic shifts, and political changes. While substantial economic growth has been achieved, income inequality has seen periods of both improvement and deterioration. The Gini index improved from 0.463 post-independence to 0.367 in 2015-16 but worsened to 0.506 by 2021 due to disruptions such as the COVID-19 pandemic. However, recent data (2021-2023) shows a positive trend, with the Gini index decreasing to 0.390, suggesting effective post-pandemic recovery measures. Key findings include shifts in income distribution among the top and bottom percentiles and significant changes across income distribution percentiles. The research underscores the need for sustained policy efforts and holistic strategies to promote inclusive growth and reduce income disparities.

This research report explores the significant reduction in the income gap between Hindu and Muslim families in India over the past seven years. Utilizing data from a comprehensive survey by the non-profit organization People Research on India's Consumer Economy (PRICE), the report examines income growth across various religious communities, revealing a substantial decrease in economic disparities. Key findings show notable income increases among Muslims (28%), Hindus (19%), and Sikhs (57%). The income gap between Hindus and Muslims has shrunk by 87%, from ?1,917 per month in 2016 to just ?250 in 2023. The report attributes this positive trend to inclusive economic growth, effective government welfare schemes, and improved access to education and employment opportunities. Additionally, the survey highlights the crucial role of government initiatives in promoting socio-economic equity. The report concludes with recommendations to further reduce economic disparities, enhance welfare programs, improve educational infrastructure, create employment opportunities, address regional disparities, and promote social inclusion. These steps are essential for fostering a more equitable and inclusive economic landscape in India.

EARLIER THIS WEEK, three-time chief minister of Delhi, Arvind Kejriwal, stepped down—six months ahead of what would have been the conclusion of his second full term at the helm. An accused in the liquor scam, the former chief minister was released on bail a few days earlier by the Supreme Court. Atishi is taking over as the new chief minister, giving the Aam Aadmi Party (AAP) a new leadership in Delhi.

A ride along Delhi Metro’s tony neighbourhoods can be intuitively reflective. Zoomers in branded tees and hemp pants carry recyclable bags with bold messages while millennials pore over mobile content flitting through OTT feeds, reels, social media and the occasional news flash. A couple of Gen X’ers occupy one corner and are obviously less flashy, notwithstanding their smart watches and high-end shoes. Boomers are spread out in the coach, and one among them watches the action unfold with a casual yawn while browsing spiritual videos on YouTube. An elderly lady next to the man sports a bag that screams ‘It’s Mine’, suggesting a craving for personalisation even at 65 or 70. The journey, in a nutshell, encapsulates the way India consumes...

India’s evolving consumption patterns reflect a dynamic economy poised for a middle-class-led transformation. A deeper analysis of what this consumer trend shift indicates...