Wednesday, August 31, 2005

Are you Rich ?

















Pic ctsy -OrderFinancialGenius

The Median Income per household in the city of Houston is $37,483.

Thats 16.5 Lakhs INR per annum. :) Remember the post we had on India beating US. With that memory , think about this. To my knowledge, the average income in India would be around Rs.3000, and an annualized income of Rs. 36,000.

That sounds bad, doesn't it.

Look at the definitions of poverty in US. "The poverty threshold varies by household size. A family of three with a child younger than 18 was considered to be living in poverty last year if its annual income was $14,974(Thats 6 Lakhs Our money) or less. For a family of two, the poverty level was $12,334.(5 lakh in our money)"

That means either of the 2 things. Iam crazy enough to confuse economics, or I live well below the poverty line.

Hmmm... But God has promised to make me richer. "A Day Would Come"

8 comments:

prasanna said...

go thro this article. http://hindustantimes.com/news/5967_1477557,001600060001.htm

iyengarkatz said...

keerthi,

are you living in india or in the usa????? i stand confused, NOT!!

dude, you are comparing apples to oranges and then claiming oranges dont taste as sweet as apple! compare oranges to orange and then maybe you will find you are above the poverty line!!

katz

Kaps said...

taking off from where IyengarKatz left....
there is something known as Purchasing Power Parity.......which will ensure that u r comparing the right figures.
I read that the average Indian incomes is Rs. 25K per annum

GP said...

Indian average income is even below Rs. 20K.. we have sooo many poor people..

Keerthi.. you cant just multiply the american income by 43 or whatever and get amazed.. as the cost of living is also high here.. some examples: On an average, a family pays about Rs. 25,000 as home rent plus utilities.. One bunch of 'karuveppilai' (about 10 sticks) is Rs. 43.. and one dosa to eat out costs Rs. 230..

India-vule maasam one lakh household income vandha raja madhiri vazhalam.. Inge.. *SIGH*

Chakra Sampath said...

the comparison is not right Keerthi.. Kaps & GP has said it in a much better way.

Jeevan said...

The amount of house rent actually paid in excess of 10% of annual salary.
INDIA had the maximum average salary increase of around 10 per cent in Asia-Pacific in 2005.

tt_giant said...

You can not even start comparing this way. In the US, people live on credit, by credit and for credit.

Very simple logic: if i earn in dollars, i spend in dollars here. Not in rupees.

Its peoples' naivette to simply multipy x dollars by 43 rupees and mooku-mela-viral-vechufying.

Bottom line is: be content whereever you are.

keerthi said...

Yes Guys !!

I shouldnt have done that.

But hey, Im a contended guy. :)