Historically, there was a close correlation between caste and economic status where 'high' castes were almost invariably of high economic status, while 'low' castes were almost always of low economic status.

In modern times, this link has become less rigid. Rich and poor people are now found in every caste, and it is easier to change occupations than before. However, at the macro level, the caste-class correlation remains remarkably stable. The privileged sections of society tend to be overwhelmingly 'upper' caste, while the disadvantaged sections are dominated by so-called 'lower' castes.

Thus, despite changes brought by social movements and state efforts, caste continues to affect the life chances of Indians in the twenty-first century, with the proportion of people living in poverty or affluence differing greatly across caste groups.