Wednesday, April 13, 2011

The Rich India : Statistical Review

 I really wanted to know the statistics regarding poverty in India after writing the post Defining Poverty. The numbers were different on various websites. Than by collecting bits and pieces I tried to make the whole picture about the rich India somewhat clear. The data is consistent with World Bank estimates about the poverty in India. I have just defined poverty level as less than 2$/day which I believe is bare minimum to lead a life.

Here the pie chart clearly shows that nearly 80% of India is still poor earning less than 2$/day, The middle class is rising and constitutes nearly 19.61% of Indians and rich are less than 0.4% of the total population. I have defined middle class as people earning more than 2$/day.

To have a better view of the enormity of the situation, have a look at the assorted data in the below picture.

We have nearly 50 billionaires which keeps hitting the media headlines. We can boast of 170,000 dollar millionaires in India but the number is less than the number of dollar millionaires in Switzerland which has less than 1% of the population of India.

The news and views on India shining and becoming developed nation keep hitting the news channels. The rich and middle class Indians feels good to hear these views but we can not deny the real situation.

The numbers are improving, there are more people every day getting out of 2$/day benchmark and becoming the part of middle class but there is still a long way to go.

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