Piyush Goyal, the Union Minister, recently shared an encouraging revelation that points to the remarkable progress in India’s middle-class segment. Goyal highlighted that the average income of the middle class has witnessed an extraordinary threefold increase, rising from ₹4.4 lakhs in Fiscal Year (FY) 2013 to impressive ₹13 lakhs in FY22.
The news comes as a testament to India’s robust economic growth and its positive impact on the standard of living for the middle-income group. Piyush Goyal’s announcement underlines the government’s commitment to fostering an environment of sustainable development, economic prosperity, and improved well-being for citizens.
“Triple income! Average middle-class income swells to ₹13 lakhs in FY22 from ₹4.4 lakhs in FY13,” stated Piyush Goyal. The tripling of average income over this period showcases the nation’s economic dynamism and the positive outcomes of policy initiatives aimed at fostering growth, investment, and equitable distribution of resources.
The surge in middle-class income reflects a broader trend of economic advancement and improved living standards for a significant segment of the population. The increase underscores the impact of various economic reforms, progressive policies, and the nation’s overall drive towards inclusive and sustainable development.
Piyush Goyal’s announcement serves as a reminder of the transformative power of economic growth and policy initiatives in elevating the living standards of citizens. The tripling of average middle-class income in just a span of nine years paints a positive picture of India’s economic progress and offers a glimpse into the nation’s bright future.
