MIDDLE CLASS WOES
For the purpose of defining, let me say here that those earning between Rs.3 lakhs to Rs.12 lakhs per annum can be categorised as middle class in todays times. The middle class is typically employed in a private firm, or Government jobs or have a small business such as shop, or trading or agency.
So the middle class have to pay Income tax, those earning more than Rs.5 lakhs per annum. So they have to pay anything between Rs.50000 to Rs.1 lakh or above as income tax. If they have to save on tax they have to heavily invest quite a chunk of their earning in tax saving instruments. Nowadays it is common for middle class person to own one house and probably a car. So he has to pay property tax, water tax, Road tax and vehicle tax, mandatory insurance on vehicles and Life Insurance and medical insurance. He will not get any of the benefits available to a poor person or tax sops available to a rich man. He pays when petrol prices go up, when vegetable prices go up, when pulses, grains prices go up. He has to take care of his parents, pay a whopping fees to the schools and colleges to educate his children. If one is not occupying ones own house, the rentals are a big drain on his income. When some medical emergencies come up in his family, he is finished. Because of work pressure he gets stress related problems, when roads are bad he gets health problems while travelling on his two wheeler. When there are power fluctuations his appliances get spoiled. Voltage stabilizers and AMC for each and every appliance in his house are a big drain on his earning capacity. In many families, in order to make ends meet, both man and his wife have to earn to make ends meet. Where there is a single man earning, he has to wait for many years till he can see better times. Doctors fees are killing, hospital bills give him a heart attack. Every budget he hopes for some magical, ever elusive relief only to be disappointed. Some people in middle class category are better off, no doubt, those that have some inherited wealth. For majority it is surely a hardship which goes on unabated. Is it a permanent struggle then?. " Somehow manage" is the mantra on which he has to live.
It is true for everybody or I am exagerating?
So the middle class have to pay Income tax, those earning more than Rs.5 lakhs per annum. So they have to pay anything between Rs.50000 to Rs.1 lakh or above as income tax. If they have to save on tax they have to heavily invest quite a chunk of their earning in tax saving instruments. Nowadays it is common for middle class person to own one house and probably a car. So he has to pay property tax, water tax, Road tax and vehicle tax, mandatory insurance on vehicles and Life Insurance and medical insurance. He will not get any of the benefits available to a poor person or tax sops available to a rich man. He pays when petrol prices go up, when vegetable prices go up, when pulses, grains prices go up. He has to take care of his parents, pay a whopping fees to the schools and colleges to educate his children. If one is not occupying ones own house, the rentals are a big drain on his income. When some medical emergencies come up in his family, he is finished. Because of work pressure he gets stress related problems, when roads are bad he gets health problems while travelling on his two wheeler. When there are power fluctuations his appliances get spoiled. Voltage stabilizers and AMC for each and every appliance in his house are a big drain on his earning capacity. In many families, in order to make ends meet, both man and his wife have to earn to make ends meet. Where there is a single man earning, he has to wait for many years till he can see better times. Doctors fees are killing, hospital bills give him a heart attack. Every budget he hopes for some magical, ever elusive relief only to be disappointed. Some people in middle class category are better off, no doubt, those that have some inherited wealth. For majority it is surely a hardship which goes on unabated. Is it a permanent struggle then?. " Somehow manage" is the mantra on which he has to live.
It is true for everybody or I am exagerating?
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Whatever stated by M. Vijaykumar is absolutely true. Thus the MIDDLE CASS segment is sandwiched between the poor and the rich/upper middle class. Mainly the Central & State governments are fleecing this class WITHOUT giving anything back. Why there is NO social security measures by the Central/State Governments to such MIDDLE CLASS person and/or even the Senior Citizens who get retired from services from private/govt. jobs? GST is levied even on the HIGH mediclaim policies of senior citizens..... shameless government. What right do such governments have to levy GST on all items being consumed by citizens, when the government does not give anything back... excepting to the SO CALLED POOR... vote bank? Our government has been only promising.... ONE COUNTRY - ONE TAX... On the contrary from conception to the pyre, the person is paying ONY taxes to the government. There is NO upper limit for taxation in India. Here people don't raise their voice against injustices being done to them. Chalta hai attitude.... Hence this segment is suffering...
Jun 03
What about those earning less than 3 lakes.? If their condition is better than the so called middle class then why to earn more. The author has exaggerated the facts
Mar 03
The woes explained by Mr Vijay Kumar N are true and a fact that many middle class persons are experiencing. The price control mechanism has become no body business and both Central and State administrators are least bothered to address these issues. The target for them is how much is the GST collection at the end of every month !!!!
Mar 02
Advice and advice! Ever heard about peer pressure. A young man or a girl from a middle class family also watches films. They have aspirations to compete with their well off college students. The son of a real estate developer can afford it so why can't he/she. At that age they do not think like Mr Gogate or Mr Narayan! That is the real world not the ideal world.
Feb 27
In a recent Television News Channel, one of the speaker of a political party touched this very topic of middle class....New 24 Sandeep Chowdhury moderator. Attached clip will give your what is status of middle class in India.
Feb 27
Govt Freebies Grants r misappropriated, misused. Earning Facilities and Tax Reductions is ONLY CORRECT REMEDY
Feb 27
