Forbes Article Reveals Average Annual Income of Indians: UP Tops State-Wise List
Forbes, a renowned global business magazine, has recently published an article shedding light on the average annual income of Indians. The article states that Indians spend an average of Rs. 9,45,489 as their earning revenue.
The average income mentioned in the article has been calculated by considering the range from the minimum wage of Rs. 8,000 to the maximum wage of Rs. 1,43,000. This comprehensive approach provides an inclusive perspective on the income levels of Indians from various economic backgrounds.
Interestingly, the article also delves into the overall annual salary of Indians and divides it by the total population to unveil a broader picture. It categorizes the earners into different income brackets, ranging from those earning tens of thousands to those earning crores. Surprisingly, the top earners in India belong to the 35-44 age group, with an average annual income of Rs. 13,777.
The article further highlights the state-wise average annual income of Indians. Uttar Pradesh tops the list with an average income of Rs. 20,720. Tamil Nadu secures the 7th position with an average income of Rs. 19,600. This data provides insights into the economic disparities and regional variations in India.
Additionally, the article includes a list of the top 10 cities in terms of average annual income. Solapur, Mumbai, Bangalore, Delhi, Bhubaneswar, Jodhpur, Pune, Srinagar, and Hyderabad make it to this prestigious list. However, Chennai, a major metropolitan city, is surprisingly not included.
When it comes to gender-based income disparities, the article reveals that the average annual income of Indian men is Rs. 19,53,055, while the average annual income of women is Rs. 15,16,296. This highlights the existing gender pay gap in the country.
Furthermore, the article acknowledges the significant contribution of the IT sector to Indian salaries. It claims that the department holds the first position in terms of income generation.
In a related context, the article references a statement made by Prime Minister Narendra Modi last August. He proclaimed that 13.50 crore Indians have moved above the poverty line in the last five years, according to a report by Niti Aayog, a policy think tank. The increase in the number of income tax return filers reflects the growth in the number of income-earning individuals. It also reveals that the average Indian salary has risen from Rs. 4 lakh in 2014 to Rs. 13 lakh in nine years.
The Forbes article provides valuable insights into the income dynamics of Indians, giving readers a comprehensive understanding of the economic landscape in the country.