Professor. Mohd. Mohsin Khan & Professor. Asiya Chaudhary
The New Middle Class of Delhi and NCRby: Professor. Mohd. Mohsin Khan & Professor. Asiya Chaudhary
It was only in the late 1980s that the importance of the middle class was apprehended in India. With the burgeoning Indian population, the market for specific products multiplied predominantly. Over the past 30 years, successive governments with their prudent macroeconomic policies improved levels of public expenditure, and a healthier Balance of Payment worked to liberate the economic condition of the Middle Class. Significant improvement transformed past ‘Middle Class’ to ‘New Middle Class’(NMC). The metamorphosis enhanced their income and consumption power. The book identifies the impact of this transformation on banking and investment habits, buying /spending habits, education preferences, and lifestyle of the NMC. The purpose is to explore in order to find out their nature and pattern of consumption, savings, and investment. Since the transformation in this class is more visible in metropolitan cities, the areas selected are New Delhi and NCR. It is concluded that the rise in NMC’s income affected their savings/ investments, consumption in various categories of goods differently and lifestyle, leading to a drastic change in consumer behavior, which must not be ignored, as it has a strong impact on consumers goods industry and Indian economy in turn. The consumer goods-producing industry must capitalize on these changes profitably.
500 in stock