Saturday, March 15, 2014

Which is you?

140 million Indians rose above the poverty line (earning below $1.25 per capita per day)  moving up the economic pyramid into the ranks of the moderately poor (earning between $1.25 and $2), or perhaps luckier to the "near poor" (earning between $2 and $4). The very fortunate left the various poor and joined "developing middle class" (earning between $4 and $13).

The "moderately poor" and "near poor" constitute 66.3 per cent of Indians, up from 55.7 per cent in 2004. This is the class of people above extreme poverty, but not yet in the emerging middle class. These are households earning Rs 5,000-15,000 per month: textile mill workers, cash crop farmers, shop salesmen, carpenters, auto-rickshaw drivers, et al.

But beware. The misfortunate of illness may see you drop down into more severe poverty. Or simply a change in the world market in supply and demand for your produce or services. 

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