Worldwidemiddle class more promise than reality

The Pew study also follows the release of IMF and the OECD separate research papers that shows trickle down approach to the creation of wealth are not working across the globe.

India and much of Asia have lagged behind in creation of the middle class in the last decade, a Pew Research study has pointed out.

“The emergence of a truly global middle class is more promise than reality despite the first decade of this century witnessing an historic reduction in global poverty. In 2011, a majority of the world’s population (56 per cent) continued to live a low-income existence, compared with just 13 per cent who could be considered middle income by a global standard,” it said.

The study comes just days after the release of an India government data set that shows half of its rural population has some level of deprivation—meaning they are not part of middle class by any stretch. The rural household in India is estimated at over 73 per cent of total national households.

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The Pew study also follows the release of IMF and the OECD separate research papers that shows trickle down approach to the creation of wealth are not working across the globe.

The world’s largest consumer survey organisation reports that though the middle-income population nearly doubled from 2001 to 2011, this rise was concentrated in China, South America and Eastern Europe. “The middle class barely expanded in India, Southeast Asia, Africa and Central America during the same period,” it said.

The message, which claims to be from the ‘Lashkar-e-Jihadi’ organisation, also said that 14 Pakistani terrorists have entered India.

34 ‘human bombs’ carrying ‘400 kg of RDX’: Mumbai police on alert after threat message

Cities31 min ago

The Mumbai traffic police received a threat message claiming that 34 "human bombs" with 400 kg of RDX have been planted in 34 vehicles for a major blast. The message, allegedly from 'Lashkar-e-Jihadi', also mentioned 14 Pakistani terrorists in India. Security has been heightened and the police are investigating the threat.

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