India's "Destitute" Class To More Than Halve By 2031 To 7.9 Crore: Study
NDTV
Super rich households will swell further to 9.1 million by 2031, aided by faster growth in rural areas, showed the study by the think tank which polled more than 40,000 people in 25 states.
India will see a five-fold increase in its 'super rich' families by the turn of the decade and a large chunk of the growth will come from rural areas - home to the nation's poorest, according to a study.
The number of super rich households, those earning more than 20 million rupees ($243,230) a year, almost doubled to 1.8 million in five years to 2021, showed a report released Wednesday by People's Research on India's Consumer Economy and India's Citizen Environment, or PRICE. The growth of such households in villages was 14.2% compared to 10.6% in cities.
Super rich households will swell further to 9.1 million by 2031, aided by faster growth in rural areas, showed the study by the think tank which polled more than 40,000 people in 25 states.
"People are increasingly engaged in commercial agriculture businesses as well as non-agriculture activities in rural areas," said Rajesh Shukla, chief executive officer of the organization and the author of the report. "Entrepreneurs are flooding into rural areas, creating jobs and small businesses that drive the economy."
