One of the most important issues for middle-class people is the rising cost of living and stagnant salaries.
Fiscal problems are growing as the prices of basic needs such as housing, health care, and education are rising, and middle-class people are expected to maintain their standard of living and maintain steady growth in salaries. I am.
For example, Raju, a middle-class employee, lives in Mumbai.
Although he wakes up every morning and takes the local train regularly, he still struggles with the rising cost of living, from high monthly rent to his children’s school fees. Inflation has increased this year, and the bill has doubled. The rent for his apartment uses up more than half of his salary. Additionally, health and medical costs are another concern for him, and even family vacations seem questionable to him. Now, he has little savings left from his salary.
For this, he visits many budgeting websites that allow him to manage all of these increasing expenses.
According to Oxfam India, “Survival of the Millionaires” ReportThe richest 1% of India’s population owns more than 40% of the country’s total wealth, highlighting deep income inequality.
The economic struggles of the middle class create contradictions between economic trends and government policies.
This article discusses the economic hardships of the middle class, economic trends, and government policies that exacerbate these challenges.
Here are some economic trends and financial challenges that middle-class people face when managing their monthly expenses.
