The NITI Aayog and SBI reports cited by PM Narendra Modi paint a picture of ‘prospering India’, where while nearly 10% of the population has moved out of poverty, another set of population has moved from the lower-income group to upper-income group
An SBI Research Report based on income tax returns filed for FY11 to FY22 shows positive trends, such as rise in average income of the middle class and significant decline in the number of returns with zero tax liability.
India's per capita income is projected to grow over seven times by 2047, an SBI Research report has said. The report projects a rise in the nominal income, and doesn't account for inflation.