Current Income Brackets in India

[jeenahaiabhiii]

What are the current income brackets in India to define our financial situation (poor, lower middle class, middle class, uppar middle class, rich)?

 

[TaxWiser]

What are the current income brackets in India to define our financial situation (poor, lower middle class, middle class, uppar middle class, rich)?

Their's no specific income brackets to define financial situation but I would define it as follows:

• Rich: Spending on Needs & Wants is Negligible compared to your income
• Upper Middle Class: Spending on Needs & Wants takes major portion of your income but still have enough savings & investment for future
• Middle Class: Spending on Needs & Wants(via loan,EMI) is equal to your income
• Lower Middle Class: Barely manage to spend on Wants after spending total income on Needs(via Loan,EMI)
• Poor: Can't afford basic cost of living with the total income

But Their's are specific income brackets to define your financial position in the country:

 

[amitvicky]

Their's no specific income brackets to define financial situation but I would define it as follows:

• Rich: Spending on Needs & Wants is Negligible compared to your income
• Upper Middle Class: Spending on Needs & Wants takes major portion of your income but still have enough savings & investment for future
• Middle Class: Spending on Needs & Wants(via loan,EMI) is equal to your income
• Lower Middle Class: Barely manage to spend on Wants after spending total income on Needs(via Loan,EMI)
• Poor: Can't afford basic cost of living with the total income

But Their's are specific income brackets to define your financial position in the country:View attachment 1785

Aur baki ke 89%???
What is the source of this data?
I believe this could be based on people who pay tax.


Wo gareeb logon ka kya jo bechare 23 hours line mein khade hokar iPhone 16 /pro / pro Max le rahe hein???
Ya Jo Bina tax bhare fortuner mein ghoom rahe hein ....

Etc etc etc etc