Biggest Scam of India is Middle Class Salary: No One Talks About This Scam, You Will Be Shocked to Know

Biggest Scam of India is Middle Class Salary: With the pace at which inflation is rising in India, the poor and middle-class people are extremely troubled. Recently, a CEO named Ashish Singla from Bengaluru gave a significant statement. According to him, a massive scam is happening in India about which no one is talking. The way middle-class people are spending while their salaries are not increasing is considered a huge scam. Let’s learn about it.

Middle Class Facing Troubles from All Sides

On the issue of middle-class problems, CEO Ashish Singla made a post on LinkedIn, calling the middle-class salary the biggest scam. Despite the middle class having stagnant income, they are continuously spending and resorting to loans and EMIs to meet their needs, which is rapidly pushing their lives toward a crisis. No one has discussed this issue for the past several decades. Talking about the last 10 years, the income of people with an annual income between ₹5 lakh and ₹1 crore has increased by only 0.4%, while the income of those earning less than ₹5,00,000 has increased by 4%.

80% Surge in Food Prices

Speaking of food prices, their cost has increased by 80% in the last 10 years, while salary growth has been less than 4%. In such a situation, people are continuously spending money to meet their needs, resorting to credit cards, EMIs, loans, etc. Due to spending more than their income, the condition of the middle class is deteriorating.

Middle-Class Troubles May Increase in the Future

Providing further information, Ashish Singla said that until 2021, only 21% of India’s population was middle class, which could rise to 38% by 2030 and 60% by 2047. To avoid this, middle-class people need to focus more on savings to improve their financial situation because the middle class is considered the engine of the Indian economy. As a vote bank, the middle class is the biggest support.