The ET Wealth Online personal finance weekly magazine has a Family Finances section that features one family every week for personal finance advice. This week they featured a family with a monthly income of Rs 54000 (approx USD $1100) The article is titled
Low income likely to pose a big hurdle. The first thing that struck me is the financial planner characterizing Rs54K per month as low income. For an emerging economy like India wherein the average monthly income is in the Rs3000-5000 per month (~USD $100), it is a little strange to consider RS54K per month to be low income. Probably the planner was taking into the account the financial goals of the family while pronouncing their income as low.
