How much does a common man earn?
Home Credit india Company has recently released a survey report named 'The Great indian Wallet Study'. It tells how much a common man earns and where he spends it. This survey has shown that the income of the middle class of india is increasing, but at the same time inflation is also increasing.
In 2024, the monthly income of common people in metros is only Rs 35,000. At the same time, this income is Rs 32,000 in tier-1 and tier-2 cities. However, this is more than last year. In 2023, common people in metros used to earn an average of Rs 33,000. At the same time, their income in tier-1 cities was Rs 30,000 and in tier-2 cities it was Rs 27,000. However, with the increase in income, expenses have also increased. Expenses have also increased by an average of 6%. Expenses like groceries (26%) and rent (21%) contribute the most, followed by transport (19%), education (15%) and medical bills (7%).
The monthly income of lower-middle class people is around Rs 33,000 in the year 2024, while the monthly expenditure is Rs 19,000. people in chennai pay the highest rent. Rent is the lowest in kolkata and Jaipur. people of chennai spend the most money on fun and enjoyment. People of lucknow turned out to be the most miserly in this matter. They spend the least on traveling, eating out, watching movies. people of dehradun spend the most money on medical treatment. But the same people spend the least on children's education.
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