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Impact of per capita income on middle class anuj

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  • 1. IMPACT OF PER CAPITA INCOME ON MIDDLE CLASS PREPARED BY:- KSHAMA CHOPRA NIKITA SINGAL RISHIBHA RAI SULTAN OMAR SALIM MANSI CHUGH ANUJ DIWAKAR
  • 2. INTRODUCTION • Per capita income or income per person is the quotient of income to the population size. • It is a measure of all sources of income in an economic aggregate, such as a country or city. • Per capita income is used as an indicator of the economic welfare of a county's residents. • Per capita income is also a measure of the wealth of a population of a nation when compared with other countries.
  • 3. Per Capita Income In India • India's per capita income is found by the Atlas method and by employing official exchange rates for conversion. • Economist have been giving considerable importance to the performance of states visa vie each other in terms of per capita income.
  • 4. Current Situation • The average income of Indian has grown by 10.5% to Rs 44,345 in2009-10 as against Rs 40,141 in 2008-09, at the current price. • The per capita income slightly exceeded its estimate calculated by Central Statistical Organisation(CSO) in 2009-10. • At 2004-05 prices, the size of GDP stood at Rs 44,64,081crore in 2009-10 as against Rs 41,54,973 crore in 2008-09.
  • 5. Challenges ahead • To quadruple the per capita income by 2020. • To adopt a longer term perspective • To attain a level of development far higher than other countries. • To learn from experiences of other countries which have already passed through these stages of development.
  • 6. Middle class • The middle class is a phenomenon of the capitalist era. • The World Bank estimates that the global middle class is likely to grow from 430 million in 2000 to 1.15 billion in 2030. • The bank defines the middle class as earners making between $10 and $20 a day.
  • 7. • The McKinsey Global Institute, projects India's middle class will grow from 50 million to 583 million people in the next two decades.
  • 8. THE MIDDLE CLASS IN INDIA • The middle class is not (yet) the biggest segment of india’s overall population. • The middle class is a growing consumer market. a) Forecast to triple as a share of india’s total consumption over next 15 years. b) As income increases, spending increase and variety of spending also increase.
  • 9. c) New range of products are being geared towards middle class.
  • 10. d) The use of financial services has increased.
  • 11. • The financial crisis has hit the middle class, but optimism about the future reigns.
  • 12. Drivers of changing consumption patterns • Affluence • Urbanization • Globalization
  • 13. Macroeconomic growth (gdp growth)
  • 14. (Income growth)
  • 15. Sources of growth
  • 16. Urban/ rural growth
  • 17. Consumption by category (share-of- wallet evolution)

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