By Admin 
India Middle Class Salary Crisis: Ashish Singhal, CEO of the Bangalore -based company Peepalco, recently pointed to a ‘untouched crisis’ of India’s middle class in a linkedin post. He wrote that in the last decade, where inflation has been increasing continuously, the income of the middle class section of India has remained almost stable. The result is a situation that they call “Well-Dressed Decline” i.e. hidden decline in good clothes.
Truth of salary growth
Singhal told through his figures that those who earn less than 5 lakhs annually, their salary has increased only 4 percent in the last 10 years. Whereas for those earning 5 lakh to 1 crore annually, this growth was only 0.4 percent. This is extremely low, especially when the prices of food items have increased by about 80 percent, due to which the power to buy has been halved.
EMI, credit and appearance life
He said that people are still going by flight during holidays, taking new smartphones and paying EMI. But the reality behind it is dependence on credit and life without savings. Singhal wrote, “People are postponing the doctor’s appointment, doing calculations before ordering Zomato, but everything looks right from outside.”
AI and rich growth increased further pressure
Singhal also talked about those external reasons in this post which are making this crisis more serious. He said that AI is gradually becoming a threat to white collar jobs. Along with this, the entire focus of the government is on welfare schemes and poor sections, while the middle class is completely out of the conversation. On the contrary, the ultra-rich section has increased by 7 times in the last decade. That is, a large part of economic growth is going only to the upper section.
“There are many expectations from the middle class, but no one is relieved”
Singhal wrote in this post, “Middle class is expected to run the country. Tax, consumption, employment, but when the crisis comes, the same class faces the most quietly. Neither makes any complaint, no relief package is available. Just inflation, installments and mental pressure.”
Has the middle class really become ‘invisible’?
This post of Singhal has waged a wide debate on social media. Many people have described it as the true picture of their life. When a CEO itself accepts this pressure and calls it a ‘scam’, the question arises whether the most contributed class in India’s economic development has become the most ignored today?
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