‘Middle class is stuck’: Saurabh Mukherjea warns of lost decade for ₹5 lakh to ₹1 cr earners in India

Revenues for the middle class of India: In the last decade earners earning 5 lakhs and ₹ 1 Crore.

In a conversation with the Federal, Mukherja highlighted the stagnation of the income in this group, which is 75% of the country’s income tax returns, even on the level of this income.

“We are now a free market economy, not socialist. The market is driving technological revolutions in factories, and now does the same in white collar offices, “he said. But this revolution shows the wages of the compression of the average income of India, reducing the availability of work and eventually transforming the above mobility.

Mukherjanja explained that he studied the decade value income tax data and set the “true” middle class, both from the poor and the rich. This COHORT – approximately 40 million tax filters, now caught in a wage trap. “Everyone is not clear that some are rising, some fall. On average, the income between 5 GEL եւ ₹ 1 crys stagnated. “

This stagnation is driving forces. Technology and political concentration. Access level jobs that once offered ₹ 2-3 Lakh, critical walking stones for the middle class, which disappeared robots and automation. “Any repetitive work is under threat. The encryption is the first of the roles of a very white collar that the Ministry of Emergency Situations will divide, “Mukherjian warned.

At the same time, he noted that 5 lakh low yields stabilize “and justly so” if the votes lie. “Approximately 60 punches an Indian earn 5 lakhs. It’s 90% of the voter. No politician can afford to ignore the bank’s bank. “

At the other end, the above-mentioned revenues of 1 also rise. “Mostly business people, not salaries,” he said. It leaves the salary lesson in the middle of the dilapidation, but by reducing the economic capacity.

“If you earn in India ₹ 5 Lakh and 1 volume, you must proudly call yourself a part of the middle class,” said Mukherjian. But pride is aside, the data message is clear. The middle class of India is no longer moving on the ladder. It slowly out of its modernism.