Outlook Business Desk
A Bengaluru CEO's LinkedIn post on "middle-class salaries" has sparked a discussion on what he calls "the biggest scam no one talks about." Ashish Singhal, CEO of PeepalCo—a wealth-tech products company—highlighted how EMIs, inflation, and a lack of savings are overwhelming the middle class.
"The poor are being supported. The rich are scaling. The middle class is just expected to absorb the shock, in silence. No complaints. No bailouts. Just inflation, EMIs, and quiet pressure. It’s time we start talking about this group," Singhal said.
In his post, he highlighted people who are earning Rs 1 lakh a month often live paycheck to paycheck, with very little left to save after expenses and EMIs.
"Over the past 10 years: - The group earning under Rs 5L saw a 4% CAGR - Rs 5L- Rs 1Cr income group has seen just 0.4% CAGR - Food prices? Up nearly 80% - Purchasing power? Cut almost in half - But spending? Up, funded by credit," Singhal wrote.
Singhal’s post sparked widespread discussion, with many expressing agreement and sharing their own financial struggles, while others offered counterpoints.
The post pointed out that cities like Bengaluru have rising living costs while salaries stay flat, making it hard for many to manage even basic expenses.
"I am picking this signal consistently from a wide variety of sources. The middle class is quietly getting squeezed from both sides. But it's also its own fault for choosing to stay quiet and naively hoping that just staying the course of 9 to 9 jobs, home loans and car loans will improve the situation," one user wrote reacting to the post.