Monday, June 20, 2011

Standard of living in India

With one of the fastest growing economies in the world, clocked at a growth rate of 8.3% in 2010, India is fast on its way to becoming a large and globally important consumer economy. The Indian middle class, estimated to be 50 million people, by McKinsey[1] is fast becoming used to Western culture.[2] If current trends continue, Indian per capita purchasing power parity will significantly increase from 4.7 to 6.1 percent of the world share by 2015.[3] In 2006, 22 percent of Indians lived under the poverty line. India aims to eradicate poverty by 2020.[4]
The standard of living in India shows large disparity. For example, rural areas of India exist with very basic (or even non-existent) medical facilities, while cities boast of world class medical establishments. Similarly, the very latest machinery may be used in some construction projects, but many construction workers work without mechanisation in most projects.[5]
In 2010, the per capita PPP-adjusted GDP for India was US$3,290.

http://en.wikipedia.org/wiki/Standard_of_living_in_India

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