ROLE OF MIDDLE CLASSS IN GROWTH OF INDIAN ECONOMY

India is one of the fastest growing economies after china its current growth is 9% plus in the foreseeable future. This all are happening due to the main increase in living standards of middle class this is happening due to sustainable growth of India economy which was not their before freedom where economical growth was stagnant was only possible by increase the literacy from 20% to 75% by [Link] had helped the Indian economy to grow. In is 75% nearly 80% are from middle class due to this Indian economy has gone some where. HOW DOES MIDDLE HELPED IN DEVELOPMENT Country China Sri Lanka Burma Iran World Average India Nepal Pakistan Adult Literacy Youth Literacy Rate Rate 93.3% (2007) 90.8 (2007) 89.9% (2007) 82.4% (2007) 84% (1998) 74.04% (2011) 56.5 (2007) 62.2 (2007)[22] 98.9% (2004) 98.0 94.4% (2004) 95% (2002)[ 88% (2001) 82% (2001) 62.7 73.9 74

Bangladesh 53.5 (2007)

Since independence, the literacy rate grew from 18.33 per cent in 1951, to 28.30 per cent in 1961, 34.45 per cent in 1971, 43.57 per cent in 1981, 52.21 per cent in 1991, 64.84 per cent in 2001 and 74.04 per cent in 2011. During the same period, the population grew from 361 million to 1,210 million.

Now , by this peoples had got proper jobs unemployment and underemployment was removed in rural and semi urban area which result boom in Indian economy. Middle class at large contributed to development in India economic . WHAT ARE SECTOR WHERE MIDDLE CLASS HELPED TO BOOST INDIAN ECONOMY The primary sector of the economy extracts or harvests products from the earth. The secondary sector of the economy manufactures finished goods. The tertiary sector of the economy is the service industry. The quaternary sector of the economy consists of intellectual activities. Some consider there to be a branch of the quaternary sector called the quinary sector, which includes the highest levels of decision making in a society or economy.

Primary Sector of Indian Economy

The Primary sector of the economy is the change of natural resources into primary products. Most products from this sector provide raw materials for other industries. The share of primary sector has decreased from the past four decades. In 1970 the share of the sector was 50% which has reduced to 29% in 1995 and is

now further reduced to 25% this was due increase in urbanizations for rural areas. Major businesses in this sector are agriculture, agribusiness, fishing, forestry, all mining and quarrying industries. Secondary Sector of Indian Economy | Construction in India The secondary sector contributes 24% of the share in Indian economy the government had always laid stress on the industrial development of the country .This sector had not done that much .But only given rural and semi urban area a new standard of living. Tertiary Sector of Indian Economy | Construction in India China and India have recently achieved spectacular economic growth. However, Services in these two Asian giants have played a very different role. In India, the service Sector contributes to more than 54 per cent of GDP while its GDP share in China is much Smaller (below 41 per cent in 2004). To provide an explanation for the contrasting Trajectories , this paper examines and compares service sector developments in these two Asian giants. It investigates the determinants of demand for services and sheds light on The outlook for service sector growth in the two countries. Key words China and India, Asia, service sector. This all sector helped in Indian development is possible by the development of India

world share by 2015 In 2006, 22 percent of Indians lived under the poverty [Link] aims to eradicate poverty by 2020 The standard of living in India shows large disparity. For example, rural areas of India exist with very basic (or even non-existent) medical facilities, while cities boast of world class medical establishments. Similarly, the very latest machinery may be used in some construction projects, but many construction workers work without mechanization in most projects. In 2010, the per capita PPP adjusted GDP for India was US$3,290 Asia's middle class those consuming between $2 and $20 per day, as per the ADB has grown from 21 per cent of the entire Asian population in 1990 to 56 per cent, or 1.9 billion people, in 2008, the ADB said in its report on 'Key Indicators for Asia and the Pacific'. ADB Chief Economist Jong-Wha Lee, while speaking to the press after the launch of the report, said Asia's middle class population is likely to grow to 2.7 billion by 2030 from the current 1.9 billion people. "Asia's consumers spent an estimated $4.3 trillion (in 2005 purchasing power parity dollars), or about one-third of OECD consumption expenditure, in 2008 and by 2030, will likely spend $32 trillion, comprising about 43 per cent of the worldwide consumption," it said. Lee said the middle class in Asia is rapidly increasing its size and purchasing power and will be an increasingly important force in global economic rebalancing. While China has 817 million middle class people, India has 274 million. CONCULSION "Asia will be able to move away from export-led to domestic-led consumption. Moreover by this all we can say if in education sector if we can match up with china Indian middle class can give a strong completion

BY MADHUSUDAN.K.S