Bengaluru: A LinkedIn post by Ashish Singal, co-founder and Group CEO of Bengaluru-based PeepalCo, regarding middle-class salaries and financial pressures has sparked a debate on social media. He wrote, "The biggest scam nobody talks about? Middle-class salaries."
The Silent Impact of Economic Burden
Singal's post highlights how the middle class is silently enduring the economic shock of rising inflation and stagnant salaries. There's no bailout, no breaking news, and no serious discussion about it.
According to him:
- The growth rate for those earning less than ₹5 lakh has been 4% CAGR.
- Income for those earning between ₹5 lakh and ₹1 crore increased by a mere 0.4% CAGR.
- Prices of food and groceries have increased by approximately 80%.
- Spending is credit-based, but purchasing power has reduced to almost half.
"This Silence Feels Like Punishment"
Singal writes, "This isn't a sudden fall, but a slow decline masked by suits and ties. People still take flights once a year, buy new phones, pay EMIs—but behind the scenes, they're crumbling."
He warns that while the poor are receiving support and the rich are getting richer, the middle class is left to manage its struggles without assistance. "No complaints, no relief—just inflation, loans, and silent pressure."
The New Threat of AI
The post also mentions that Artificial Intelligence (AI) is emerging as a significant threat to white-collar jobs. Meanwhile, the ultra-rich have increased their wealth sevenfold in the past 10 years.
Reactions: What the Public Said?
The LinkedIn post elicited numerous reactions from users. One user wrote, "The middle class is also partly to blame—they neither demand anything from the government nor raise their voices about their situation. They are only entangled in 9-to-9 jobs, home loans, and car loans."
Another user stated, "Very accurately put. The middle class is following others' agendas and has lost its ability to think for itself."
Yet another user wrote, "No matter how much you work, the savings graph remains stagnant. The government should create a special scheme for middle-class growth."
However, some offered criticism. One user questioned, "As a CEO, how much have you increased your employees' salaries?"
Singal concluded his post by asking, "Is this just an issue of income or also of money management?"
