Aristocrats and precariats.

"Poverty in India is estimated to have declined to 8.5% in 2022-24 from 21.2% in 2011-12, despite the challenges posed by the the pandemic, according to a research paper by the economic think tank NCAER." "Traditional strategies designed to address chronic poverty in a large segment of society may be less effective as accidents of birth become less important than accidents of life, it added." ET. The paper by the National Council of Applied Economic Research (NCAER) (wikipedia) found, "Poor rural residents find work as skilled masons, and urban slum-dwellers become drivers for delivery services. While this is a step out of abject poverty, it also places them on a precarious perch where a single accident, natural disaster, or epidemic could push them back into poverty." Thus, "Of the 8.5% poor in 2022-24, 5.3% are newly poor, reflecting a decline in chronic poverty and growth in transient poverty," wrote Sonalde Desai. This is 'precarity' which "is a precarious existence, lacking in predictability, job security, material or psychological welfare". wikipedia. The only solution is proper salaried jobs. But, "The gig economy is multiplying as more people take temporary, flexible jobs through digital platforms. In India, there are currently around 7 million gig workers, and this number is expected to rise to 25 million by 2030." "The transient nature of gig work often leaves workers without traditional benefits like health insurance or retirement plans." ET. "India's economy ended the first quarter on a strong note with manufacturing sector activity rebounding in June," and "Passenger car sales rose further in the month from last year's high base." ET. "India's manufacturing activity witnessed a rebound owing to increased demand," as "Bigger workloads generated more jobs. Hiring increased for a fourth consecutive month." ET. "India will struggle to create enough jobs for its growing workforce over the next decade even if the economy grows at a rapid pace of 7%, Citigroup Inc. said." "Citi estimates India will need to create about 12 million jobs a year over the next decade to absorb the number of new entrants to the labor market. Based on a growth rate of 7%, India can only generate 8-9 million jobs a year." BS. "Reports indicate a declining labor force participation rate, from 47% in 2016 to 40% in 2022, coupled with job losses due to automation and technological advances." ET. "The gross value added of unincorporated (informal) manufacturing companies increased by 19.14% to Rs 3.6 lakh crore (trillion) in 2022-23 (October-September) compared with Rs 2.77 trillion in 2021-22 (April-March)," but the number of workers increased by 6.3% in the informal manufacturing sector compared to a 13.4% increase in the informal services sector. "Emolument per worker declined 1.1% in 2022-23 compared with 2021-22." ET. Even as informal workers earn less, Dearness Allowance (DA) of central government employees has been increased to 50% to cushion them from rising prices and other allowances will also increase to keep pace with DA. ET. They are the aristocrats. But abject poverty is only 8.5%. Rejoice.