| − | In terms of purchasing power parity, its economy is the second largest in Asia, and is the world's fourth largest economy. India is one of the fastest developing economies in the world with an annual growth rate of over 8%. However it is battling major obstacles to improve the average standard of living , such as high levels of [[poverty]], [[illiteracy]] and [[malnutrition]]. Standard of living in India shows large disparity. While rural areas have little or almost non-existent medical facilities, urban areas have world class medical establishments. Wealth distribution in India is also uneven. The top 10% of income groups earn 33% of the income,<ref name=incomedist>[http://www.indiatogether.org/photo/2003/class.htm "In Pictures – Middle Class, or Upper Class? "]. ''India Together''. Civil Society Information Exchange. August 2003</ref> while 77% of the country's population earn less than $0.40/day.<ref>This figure has been variously reported as either "2 dollars per day" or "0.5 dollars per day". The former figure comes from the the [[Purchasing Power Parity|PPP]] conversion rate, while the latter comes from the official exchange rate. Also note that this figure does not contradict the NSS derived figure, which uses calorie consumption as the basis for its poverty line. It just uses a more inclusive poverty line</ref> 27.5% of the population was living below poverty line in 2004–2005<ref>[http://www.planningcommission.gov.in/news/prmar07.pdf Poverty estimates for 2004-05], Planning commission, [[Government of India]], March 2007. Accessed: August 25, 2007</ref>. | + | In terms of purchasing power parity, its economy is the second largest in Asia, and is the world's fourth largest economy. India is one of the fastest developing economies in the world with an annual growth rate of over 8%. However it is battling major obstacles to improve the average standard of living , such as high levels of [[poverty]], [[illiteracy]] and [[malnutrition]]. Standard of living in India shows large disparity. While rural areas have little or almost non-existent medical facilities, urban areas have world class medical establishments. Wealth distribution in India is also uneven. The top 10% of income groups earn 33% of the income,<ref name=incomedist>[http://www.indiatogether.org/photo/2003/class.htm "In Pictures – Middle Class, or Upper Class? "]. ''India Together''. Civil Society Information Exchange. August 2003</ref> while 77% of the country's population earn less than $0.40/day.<ref> 27.5% of the population was living below poverty line in 2004–2005<ref>[http://www.planningcommission.gov.in/news/prmar07.pdf Poverty estimates for 2004-05], Planning commission, [[Government of India]], March 2007. Accessed: August 25, 2007</ref>. |