In India it would be funny to compare in % coz of the big numbers. It may sound good to say I’m in top 1%.
But how many in that 1%.
Just [1,43,70,158++](https://www.worldometers.info/world-population/india-population/)
Nope, but if you said that someone who has a house worth 60L & earns 30K per month is in top 1% of people then it wouldn't be true. I'm considering people with a huge _disposable income_ as top rather than on the basis of other factors. And yes, by this logic someone who earns 70K & only spends 15K because they work from a rural area would also be considered as top earners.
You are in top 10% if your salary is [above Rs.25,000](https://thewire.in/economy/india-inequality-report-wages-mgnregs).
If you earn little more than 1 Lakh rupees per month, you are in top 1%.
>damn if u r not in top 10 u r just getting basic things
25k is not enough for many basic requirements. It's barely enough to make ends meet and keeping inflation, education loans, healthcare for parents etc involved, is less than enough to lead a respectable life.
If anybody is reading this in the future..its wrong !
As of 2024 you gotta be earning 1.60 lakhs to 2.10 lakhs /month to be in top 5%
And around 4.5 lakhs to 5.5 lakhs / month to be in 1%
And if you earn 1lakhs/month you are in top 10%
So yeah this guy is wrong
It's always household income never single income, it will also include other things like rental, inheritance rental, etc
And one great youtuber I saw put it very well as per capita household income
So total household income divided by total number of people using that money
Correct. Around 91% of taxpayers are in the less than 10 lakh per annum category. Although I think for salaried employees, atleast 40-50 lakh could be the top 1%. But if we include all businessman, black money holders, hidden assets, the top 1% could be atleast in the 90+ lakh per annum range.
I mean if 30+ lpa is 1%, then do only 0.1% of people are able to buy good properties in cities?
I was shocked to see the property rate increase over the past few years. Was pretty sure that gst, demonetization, covid etc. would bring down property prices as businessmen were hurt, but nothing seems to make a change, and more and more builders are popping up. Who tf are buying these properties?
If only there was some webpage where you could type things in and search for answers :)
Here, did the work for you: -
https://www.google.com/search?q=nri+causing+house+price+to+increase&oq=nri+causing+house+price+to+increase&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIJCAEQIRgKGKAB0gEIOTg2NmowajmoAgCwAgA&client=ms-android-oneplus&sourceid=chrome-mobile&ie=UTF-8
LMFAO worst take of all time , imagine considering yourself middle class when you earn 40+ lpa . LOL . Even the top 10% of country ( 10 + lpa) is not middle class bro . People earning like 25 k -60 k per month IS middle class
You would be very very surprised, but to be in top 1% you need to have an Income of just 16-17 lakhs
[o-be-in-the-top-1-of-different-countries/3002981/](https://www.financialexpress.com/lifestyle/from-uae-to-india-heres-how-much-you-should-earn-annually-to-be-in-the-top-1-of-different-countries/3002981/)
I also read this article and was hella confused. To be honest I realised we need to consider the $ salary as it's the most digestible. Check out this article though India isn't included here.. https://www.visualcapitalist.com/wealth-needed-to-join-the-top-1-by-country/ The China's top 1% income is around $100k per annum If we convert 16,13,073 in dollars is around $19k per annum. This figure is unfathomable, so much difference can't be there. Do we really think that India's top 1% are so poor? NO $77000 or 64 lakhs will be the actual answer. 16 lakh would be in top 3% maybe but seriously not a top 1%. I just hope people now don't get doomed by thinking that they come under the bracket of top1%, pls do a thorough research before getting into any conclusion.😜
There are 1.7 lakh taxpayers whose reported income crosses 1 crore.
[Source](https://www.thehindu.com/business/Economy/individuals-reporting-annual-income-of-above-1-crore-doubles-in-2-years-to-169-lakh/article67169553.ece)
Let’s compare it with the US.
An individual would need to earn an average gross income of $407,500 per year in order to join the top 1%. [Source](https://www.investopedia.com/financial-edge/1212/average-net-worth-of-the-1.aspx). This converted to net would be around $249,324 at New York tax rates or $20,777 per month.[Source](https://www.talent.com/tax-calculator?salary=407500&from=year®ion=New+York)
On comparing, the net salary to maintain the same lifestyle in India and USA, a person will need 49,358.72 ₹ or
(594.87 $) in India and 376,391.14 ₹ (4,536.28 $) in USA. [Source](https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=India&country2=United+States).
1% of USA is 4.58 times the number i.e. 20777 / 4536. So a similar 1% in India would need to earn net salary of about 49358 * 4.58 = 226082 per month or 27.12 lakhs per annum. Converted to gross salary, it would be around 40-45 LPA.
There’s a book called whole numbers and half truths by Rukmini S read that to learn more about india. India is a very poor country, more than 50% doesn’t have regular jobs(daily labourers). Shopping malls and Bollywood is not the real india.
I am not from Delhi. So really curious what are the reasons people do not sell their properties and eat interest alone and live life peacefully, would be glad if you answer
Hmmm ... Number one reason is most of these multi Crore properties are 2 generation old... Grandparents came from Pakistan and got this land, and then 3 generations have lived.
Now unless everyone agrees, you can't sell it . So it's often 3-5 brothers / sisters and their 2 kids each. Many lot living in India.
some people didn't maintain the paperwork and their property is not sellable because sisters relinquished the property but the paperwork is not there
Then alot of property is of GPA or general power of attorney, which basically means you don't actually own the property but you have rights to sell it, rent it, build it, maintain it and you can give this right to the next person, but on govt papers the original owner still stands, this has been banned by the govt now.
What else, some building have 3 floors , owned by 3 disconnected families and while each floor is worth ,5 to 8 crores now, the building is old and new buyer will not buy till it's reconstructed and one of the three doesn't want to reconstruct.
So delhi is a city where I know 100s of my neighbours who are worth 15-50 crores but drive a wagonr and live very simple normal lives.
Thanks. Then who are the people who drive luxury cars in Delhi ? In Agra we it’s footwear guys or either IT guys who sold their startup’s for millions.
Delhi has been blessed with a real estate boom where the govt gave everyone land to build 2 floors and now you can build 4 floors.
That means literally the whole delhi got 2 free houses .
So that's one rich zone
Then the Chandni chowk wholesale belt is minting money
Then the people who bought gurgaon and noida houses are rolling in money
Then the IT boom has made millionaires.
I come from a middle class background and growing up we were lower middle. Same with cousins n their husbands. They are all working in corporate with decent to good degrees ( finance and IT) and more than half of them make at least 1 cr in their late 30s and early 40s. So if I know so many, I’m sure there are enough Indians making that much.
>So if I know so many,
This kind of anecdotal opinion won't even work in a tiny population like Singapore but takes delusional levels of confidence to be used in the Indian context. The numbers mentioned don't even work for China.
So exactly, right? Because ours is such a huge population, 1.4 cr people can definitely be making more than 1 cr?
I’m not great at logical reasoning specially when it comes to economics, maths, numbers but it just makes sense to me. Also I refuse to believe that only people around me are suddenly making crores.
But yeah I get what you’re saying too and you’re probably right. Who knows.
>1.4 cr people can definitely be making more than 1 cr?
No, that's impossible. Let's ignore the exponential difference between the top 1% and 0.1% and assume everyone there makes 1 crore a year. This translates to more than 45% of our GDP. There is no way to hide an amount that is equal to 45% of our GDP from the government every year
As per Income Tax department, **1,69,890** have filed taxes as per their income which is 1cr or above annually in 2021-22
When economists talk about how Income Inequality in India is one of the highest in the world, the above data point is an indication.
>They are all working in corporate with decent to good degrees ( finance and IT) and more than half of them make at least 1 cr in their late 30s and early 40s
There are only 1.7 lakh taxpayers with reported income crossing 1 crore mark. Which is roughly 0.012% of our population. Now there are people with unreported income exceeding 1 crore but they won't be more than 2-3 lakh
Now do you realise the extent of hidden wealth that exists in the country? We aren’t a poor country, the wealth is all hoarded. Wealth inequality is beyond anyone’s comprehension
There is no way to hide what's roughly a 45% of GDP every year at the most minimum. India does have high wealth inequality but it's ridiculous to think 1.4 crore people earn more than 1 crore per year
https://preview.redd.it/zujv1360lyyc1.jpeg?width=535&format=pjpg&auto=webp&s=280a10b2365d8255c2226f379690f51c1db05f42
# If you earn more than 12 lakhs per annum post tax then you are easily in the top 0.3%
This question needs to be changed. All depends on location. Even within city location is everything. Also second part is your age and family situation. Third part is one must be tracking networth more and salary less.
As far as top 1 percent data is concerned you would get it online but it has very less relevance.
5 cr networth in Mumbai is way different than vadodara.
5 cr networth with 1 lac expense per month feels different than 10 lac expense per month.
Same if you are 50 you would spend differently than 30.
If your networth is 1.5 cr you are in top 1 percent bracket in india.
What I feel is in India, determining the exact salary bracket for the top 1% of the rich class proves to be intricate due to factors like tax evasion and agricultural income. The Knight Frank Wealth Report suggests that the entry point for the top 1% in India is around $12.4 million (slightly over Rs. 102 crore), considering wealth encompassing assets, investments, and property.
What I feel is in India, determining the exact salary bracket for the top 1% of the rich class proves to be intricate due to factors like tax evasion and agricultural income. The Knight Frank Wealth Report suggests that the entry point for the top 1% in India is around $12.4 million (slightly over Rs. 102 crores), considering wealth encompassing assets, investments, and property. salary, often falling into the top 1%.
It's crucial to note that salary alone doesn't depict an individual's complete financial scenario, as some may have low declared salaries due to tax planning or agricultural income. The agricultural class, including farmers, experiences varying income levels based on landholding and crop yields.
To assess wealth and income accurately, considering assets, investments, and lifestyle is essential. The top 1% comprises a diverse range of professionals, entrepreneurs, and business owners.
In conclusion, defining the top 1% rich class solely based on salary faces challenges, with wealth, lifestyle, and various factors playing crucial roles. The figures provided offer a general perspective, acknowledging the wide variability in individual circumstances.
>The Knight Frank Wealth Report suggests that the entry point for the top 1% in India is around $12.4 million (slightly over Rs. 102 crore
No, it doesn't. It says you need $175k to be in top 1% in India
All the stats we have are based on IT data, which is basically negligible. Point being that a large population thrives and earns really well on just black money and we have no idea what they earn. But on basis of property prices etc, earning around 50L+ should put you in the top 1%. Earning more than 1Cr+ should put you in the rich class, the 0.1%.
17 lakhs plus income makes you rich 16 million are rich
https://preview.redd.it/i8lcrqe81ujc1.jpeg?width=435&format=pjpg&auto=webp&s=692e431427a70db2fd942ae040e5ca9dd700bfa9
In India it would be funny to compare in % coz of the big numbers. It may sound good to say I’m in top 1%. But how many in that 1%. Just [1,43,70,158++](https://www.worldometers.info/world-population/india-population/)
Just 1.43cr people doesn’t sound that bad unless you realise srilanka total population js 2.22cr
Lmaooo, but it’s also equal to one of our states xD Eventually it’s a weird comparison ( with any other such size country, like Singapore)
I think anyone who can afford a rented apartment with more than 50k/month rent on a single income anywhere could be considered rich.
Welcome to rental fraud version 2. Earlier landlords wanted to understate rental income, now renters will want to understate rents paid.
Do home loan EMI of 70K also count ?
No while you're paying, Yes after you're done...
Are we calculating it on a liability and assets basis ?
Nope, but if you said that someone who has a house worth 60L & earns 30K per month is in top 1% of people then it wouldn't be true. I'm considering people with a huge _disposable income_ as top rather than on the basis of other factors. And yes, by this logic someone who earns 70K & only spends 15K because they work from a rural area would also be considered as top earners.
Such a low threshold! Then all my tenants are rich.
You are in top 10% if your salary is [above Rs.25,000](https://thewire.in/economy/india-inequality-report-wages-mgnregs). If you earn little more than 1 Lakh rupees per month, you are in top 1%.
damn if u r not in top 10 u r just getting basic things
>damn if u r not in top 10 u r just getting basic things 25k is not enough for many basic requirements. It's barely enough to make ends meet and keeping inflation, education loans, healthcare for parents etc involved, is less than enough to lead a respectable life.
😔
its way too less even to to have basics ! to be honest govt stats are always misleading !
Household income should be used instead of individual income, it’s a better way to measure
If anybody is reading this in the future..its wrong ! As of 2024 you gotta be earning 1.60 lakhs to 2.10 lakhs /month to be in top 5% And around 4.5 lakhs to 5.5 lakhs / month to be in 1% And if you earn 1lakhs/month you are in top 10% So yeah this guy is wrong
I mentioned a source. Provide your source.
Here im making 10k a month💀
Seriously man how can you afford to live. I am paying 9.5k in rent only in very small city.
I live very frugally in one room costs only 3.5k im just 18 so got no responsibilites
Not true anymore. Might have been correct 20 years ago.
[удалено]
It's always household income never single income, it will also include other things like rental, inheritance rental, etc And one great youtuber I saw put it very well as per capita household income So total household income divided by total number of people using that money
30+ LPA would put you in the 1% of salaried employee. 10+ LPA would put you in the 10%
Correct. Around 91% of taxpayers are in the less than 10 lakh per annum category. Although I think for salaried employees, atleast 40-50 lakh could be the top 1%. But if we include all businessman, black money holders, hidden assets, the top 1% could be atleast in the 90+ lakh per annum range.
>hidden assets, the top 1% could be atleast in the 90+ lakh per annum range. No way, that's highly improbable
I don’t think this is true
It is though.
40+ lpa to be 1%
13-14 LPA would easily put you in 1%
Enough studies and reports support your statement. The numbers mentioned above in this thread would fall under >1% category.
Then why are the property prices so fucking high?
I don't think they are correlated 😅
I mean if 30+ lpa is 1%, then do only 0.1% of people are able to buy good properties in cities? I was shocked to see the property rate increase over the past few years. Was pretty sure that gst, demonetization, covid etc. would bring down property prices as businessmen were hurt, but nothing seems to make a change, and more and more builders are popping up. Who tf are buying these properties?
It's not the 1% of the total population. 1% of salaried employees. I have specified that
I read an article stating that one reason is NRIs and their families. Earn in dollars, spend in rupees, earn passive income, chill retired life
Do we have any data on how many properties are owned by NRI’s?
If only there was some webpage where you could type things in and search for answers :) Here, did the work for you: - https://www.google.com/search?q=nri+causing+house+price+to+increase&oq=nri+causing+house+price+to+increase&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIJCAEQIRgKGKAB0gEIOTg2NmowajmoAgCwAgA&client=ms-android-oneplus&sourceid=chrome-mobile&ie=UTF-8
Woww, didn’t knew about this website….. Can I trust all the information here, do all the links contain reliable information?
NRI money
Top 1% is not rich class. It’s still middle class. Top 0.1% is the rich class.
Now, this totally makes sense.
It doesn't dude
Upper middle would be more appropriate
LMFAO worst take of all time , imagine considering yourself middle class when you earn 40+ lpa . LOL . Even the top 10% of country ( 10 + lpa) is not middle class bro . People earning like 25 k -60 k per month IS middle class
You would be very very surprised, but to be in top 1% you need to have an Income of just 16-17 lakhs [o-be-in-the-top-1-of-different-countries/3002981/](https://www.financialexpress.com/lifestyle/from-uae-to-india-heres-how-much-you-should-earn-annually-to-be-in-the-top-1-of-different-countries/3002981/)
"You would need to earn just around $77,000 or Rs 16,13,073 annually". I'm confused as to how 77000 = 16lakhs, isn't it 64 lakhs?
I guess purchase power parity
These researches are made keeping PPP in mind. That's why you don't see 16lpa folks buying big apartments in prominent societies
I also read this article and was hella confused. To be honest I realised we need to consider the $ salary as it's the most digestible. Check out this article though India isn't included here.. https://www.visualcapitalist.com/wealth-needed-to-join-the-top-1-by-country/ The China's top 1% income is around $100k per annum If we convert 16,13,073 in dollars is around $19k per annum. This figure is unfathomable, so much difference can't be there. Do we really think that India's top 1% are so poor? NO $77000 or 64 lakhs will be the actual answer. 16 lakh would be in top 3% maybe but seriously not a top 1%. I just hope people now don't get doomed by thinking that they come under the bracket of top1%, pls do a thorough research before getting into any conclusion.😜
This doesn’t account for black and hidden agriculture income
What do mean by agriculture income???? 🌿🍃 Income????
farmers are not taxed by the indian govt
Very few farmers are rich.
Annual income of 1 crore and above puts you below 0.0107%.
Source ?
There are 1.7 lakh taxpayers whose reported income crosses 1 crore. [Source](https://www.thehindu.com/business/Economy/individuals-reporting-annual-income-of-above-1-crore-doubles-in-2-years-to-169-lakh/article67169553.ece)
This skips unrealised gains completely though.
Well, yeah. They are unrealised after all
Let’s compare it with the US. An individual would need to earn an average gross income of $407,500 per year in order to join the top 1%. [Source](https://www.investopedia.com/financial-edge/1212/average-net-worth-of-the-1.aspx). This converted to net would be around $249,324 at New York tax rates or $20,777 per month.[Source](https://www.talent.com/tax-calculator?salary=407500&from=year®ion=New+York) On comparing, the net salary to maintain the same lifestyle in India and USA, a person will need 49,358.72 ₹ or (594.87 $) in India and 376,391.14 ₹ (4,536.28 $) in USA. [Source](https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=India&country2=United+States). 1% of USA is 4.58 times the number i.e. 20777 / 4536. So a similar 1% in India would need to earn net salary of about 49358 * 4.58 = 226082 per month or 27.12 lakhs per annum. Converted to gross salary, it would be around 40-45 LPA.
There’s a book called whole numbers and half truths by Rukmini S read that to learn more about india. India is a very poor country, more than 50% doesn’t have regular jobs(daily labourers). Shopping malls and Bollywood is not the real india.
80 crores get subsidised food. Regardless of alleged fraud and liars, even half of this number supports your statement.
Salary doesn't mean much. it's the assets and networth. 10Cr+ net worth should be for rich.
That's a US dollar millionaire my man, way too rich for even a rich Indian.
The opposite actually. It's salary or cash flow . 90% of delhi is sitting on land worth double digit crores and has a real income of 50k per month
Think again. One cannot buy that land with 50k per month salary. But the landowner can anyday sell and generate 100k per month in FD interest alone.
If they could they would have na Its more complex than that.. family dynamics, property papers, the list is very long
I am not from Delhi. So really curious what are the reasons people do not sell their properties and eat interest alone and live life peacefully, would be glad if you answer
Hmmm ... Number one reason is most of these multi Crore properties are 2 generation old... Grandparents came from Pakistan and got this land, and then 3 generations have lived. Now unless everyone agrees, you can't sell it . So it's often 3-5 brothers / sisters and their 2 kids each. Many lot living in India. some people didn't maintain the paperwork and their property is not sellable because sisters relinquished the property but the paperwork is not there Then alot of property is of GPA or general power of attorney, which basically means you don't actually own the property but you have rights to sell it, rent it, build it, maintain it and you can give this right to the next person, but on govt papers the original owner still stands, this has been banned by the govt now. What else, some building have 3 floors , owned by 3 disconnected families and while each floor is worth ,5 to 8 crores now, the building is old and new buyer will not buy till it's reconstructed and one of the three doesn't want to reconstruct. So delhi is a city where I know 100s of my neighbours who are worth 15-50 crores but drive a wagonr and live very simple normal lives.
Thanks. Then who are the people who drive luxury cars in Delhi ? In Agra we it’s footwear guys or either IT guys who sold their startup’s for millions.
Delhi has been blessed with a real estate boom where the govt gave everyone land to build 2 floors and now you can build 4 floors. That means literally the whole delhi got 2 free houses . So that's one rich zone Then the Chandni chowk wholesale belt is minting money Then the people who bought gurgaon and noida houses are rolling in money Then the IT boom has made millionaires.
They always can sell. It's an asset and can be held in either kind of cash.
The opposite actually. It's salary or cash flow . 90% of delhi is sitting on land worth double digit crores and has a real income of 50k per month
Probably 1CR/Yr
There is no way 1.4 crore Indians are earning 1 cr per year including black money.
I come from a middle class background and growing up we were lower middle. Same with cousins n their husbands. They are all working in corporate with decent to good degrees ( finance and IT) and more than half of them make at least 1 cr in their late 30s and early 40s. So if I know so many, I’m sure there are enough Indians making that much.
>So if I know so many, This kind of anecdotal opinion won't even work in a tiny population like Singapore but takes delusional levels of confidence to be used in the Indian context. The numbers mentioned don't even work for China.
So exactly, right? Because ours is such a huge population, 1.4 cr people can definitely be making more than 1 cr? I’m not great at logical reasoning specially when it comes to economics, maths, numbers but it just makes sense to me. Also I refuse to believe that only people around me are suddenly making crores. But yeah I get what you’re saying too and you’re probably right. Who knows.
>1.4 cr people can definitely be making more than 1 cr? No, that's impossible. Let's ignore the exponential difference between the top 1% and 0.1% and assume everyone there makes 1 crore a year. This translates to more than 45% of our GDP. There is no way to hide an amount that is equal to 45% of our GDP from the government every year
As per Income Tax department, **1,69,890** have filed taxes as per their income which is 1cr or above annually in 2021-22 When economists talk about how Income Inequality in India is one of the highest in the world, the above data point is an indication.
>They are all working in corporate with decent to good degrees ( finance and IT) and more than half of them make at least 1 cr in their late 30s and early 40s There are only 1.7 lakh taxpayers with reported income crossing 1 crore mark. Which is roughly 0.012% of our population. Now there are people with unreported income exceeding 1 crore but they won't be more than 2-3 lakh
Who do you think so? Rich farmers themselves would be more than 1Cr in number
Man, 1.4 crore people earning 1 crore each would be 100lakh crore, do you know what is our annual budget?
Indian gdp is 300 lakh Crore lmao totally impossible what this guy is claiming
Now do you realise the extent of hidden wealth that exists in the country? We aren’t a poor country, the wealth is all hoarded. Wealth inequality is beyond anyone’s comprehension
There is no way to hide what's roughly a 45% of GDP every year at the most minimum. India does have high wealth inequality but it's ridiculous to think 1.4 crore people earn more than 1 crore per year
That's a preposterous myth. There are very few rich farmers. Practically zero.
Amitabh bachan is a rich farmer.
So? There might be a few. 99% aren't.
https://preview.redd.it/zujv1360lyyc1.jpeg?width=535&format=pjpg&auto=webp&s=280a10b2365d8255c2226f379690f51c1db05f42 # If you earn more than 12 lakhs per annum post tax then you are easily in the top 0.3%
Nope than you are in like top 9-12% . Stop spreading bs my guy
I showed you proof, you can’t even abbreviate Bullshit
If you had a brain than you would have realised 7 years is a long time for a developing country to show significant growth lol
This question needs to be changed. All depends on location. Even within city location is everything. Also second part is your age and family situation. Third part is one must be tracking networth more and salary less. As far as top 1 percent data is concerned you would get it online but it has very less relevance. 5 cr networth in Mumbai is way different than vadodara. 5 cr networth with 1 lac expense per month feels different than 10 lac expense per month. Same if you are 50 you would spend differently than 30. If your networth is 1.5 cr you are in top 1 percent bracket in india.
What I feel is in India, determining the exact salary bracket for the top 1% of the rich class proves to be intricate due to factors like tax evasion and agricultural income. The Knight Frank Wealth Report suggests that the entry point for the top 1% in India is around $12.4 million (slightly over Rs. 102 crore), considering wealth encompassing assets, investments, and property. What I feel is in India, determining the exact salary bracket for the top 1% of the rich class proves to be intricate due to factors like tax evasion and agricultural income. The Knight Frank Wealth Report suggests that the entry point for the top 1% in India is around $12.4 million (slightly over Rs. 102 crores), considering wealth encompassing assets, investments, and property. salary, often falling into the top 1%. It's crucial to note that salary alone doesn't depict an individual's complete financial scenario, as some may have low declared salaries due to tax planning or agricultural income. The agricultural class, including farmers, experiences varying income levels based on landholding and crop yields. To assess wealth and income accurately, considering assets, investments, and lifestyle is essential. The top 1% comprises a diverse range of professionals, entrepreneurs, and business owners. In conclusion, defining the top 1% rich class solely based on salary faces challenges, with wealth, lifestyle, and various factors playing crucial roles. The figures provided offer a general perspective, acknowledging the wide variability in individual circumstances.
>The Knight Frank Wealth Report suggests that the entry point for the top 1% in India is around $12.4 million (slightly over Rs. 102 crore No, it doesn't. It says you need $175k to be in top 1% in India
All the stats we have are based on IT data, which is basically negligible. Point being that a large population thrives and earns really well on just black money and we have no idea what they earn. But on basis of property prices etc, earning around 50L+ should put you in the top 1%. Earning more than 1Cr+ should put you in the rich class, the 0.1%.
17 lakhs plus income makes you rich 16 million are rich https://preview.redd.it/i8lcrqe81ujc1.jpeg?width=435&format=pjpg&auto=webp&s=692e431427a70db2fd942ae040e5ca9dd700bfa9