India's middle class is estimated to have grown dramatically over the last few decades, with many families moving from poverty to the middle class. This rise has been aided by policies set forth by the government to ensure that people have access to the resources they need to make the necessary changes to their lifestyle.
India is experiencing a dramatic rise in its middle class population, estimated to have grown from 40 million people to 250 million over the last few decades. Families are moving from poverty to the middle class, facilitated by a range of government policies.
Initiatives such as the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) have ensured the availability of resources to those in need. In addition, tax relief in the form of Goods and Services Tax (GST) exemptions have helped to reduce the cost of living. This has had a positive impact on the economy, allowing people with lower incomes to purchase goods and services.
Furthermore, improvements in education and healthcare have allowed for the growth of jobs in sectors such as the tech and hospitality industries. As a result, salaries have gone up, which in turn has boosted discretionary income. This has allowed individuals to spend more, and in turn helped support small businesses.
All of these factors have contributed to the rise in India’s middle class. The government’s efforts to ensure access to the necessary resources have allowed many people to move from poverty to the middle class. This can only bode well for the nation’s economy as a whole.
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