Upper Middle Class Income In India 2025 . India could be an upper middle country within a decade (2024) 200,000 a year and is called the lower middle class Rejigging the income tax slabs in 2025-26 Budget, FM Sitharaman declares that no income tax would be payable up to annual income of Rs 12 lakh, announcing that the govt would thus forgo Rs 1 lakh crore in direct tax revenues
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At the bottom of the income pyramid are households that earn less than Rs 100,000 a year In 2020-21, India's middle class accounted for roughly 31% of the population - about 43.2 crore people or over.
Average Of Upper Middle Class In India While there isn't a strict definition, it's generally marked by higher incomes, advanced education, professional careers, and distinct values and lifestyles In 2020-21, India's middle class accounted for roughly 31% of the population - about 43.2 crore people or over. The 2025 Budget has redefined tax relief for middle-income families while also spotlighting the evolving economic divisions in India
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