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The monthly average income of a salaried person in urban India has grown only 7.5 per cent from Rs20,030 in the second quarter of fiscal 2022 to Rs 21,647 in the first quarter of fiscal 2023, aaccording to a report by ICICI Securities.
On the flip side, average income of a salaried person in rural India has stagnated at Rs14,700/month for the 18-month period ending Q1FY23 as per the annual PLFS study.
