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Posted: 2025-05-26 16:28:32 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
Status
Last Updated
2025-05-26 16:28:57 UTC
Verified By
Rollup News
A report claimed India's middle-class incomes grew at only 0.4% CAGR from 2013-2023, but this is a misinterpretation of the data. The analysis fails to account for income mobility, the expansion of the middle class, and the rise of higher-income earners.
The report's conclusion of middle-class income stagnation is flawed.
The analysis doesn't account for people moving into and out of the middle-class income bracket.
India's middle class has expanded significantly, indicating economic success, not stagnation.
Many individuals have moved into higher income brackets, which the report fails to consider.
Misinterpretation of Income Tax Returns (ITR) data.
Failure to track cohorts over time, focusing instead on static income bands.
Ignoring income mobility and the expansion of the tax base.
Mislabeling inclusive growth as a 'squeeze' on the middle class.