How Middle Class Has Suffered in Last 9 Years.

https://theprint.in/national-interest/middle-class-is-addicted-to-modi-slowing-growth-stalled-reform-oppressive-taxes-dont-matter/2461727/ India’s economic engine is slowing and screeching and the ones hurting the most are the vast middle classes.... There is plenty of data already in the public domain on Indian millionaires shifting overseas. Over the past two years, the average is 5,000, according to the Henley Private Wealth Migration Report. You’d never hear these wealthy complain. They are too smart to take such ‘pangas’. They are simply voting with their feet. The fact is, they have surpluses and rather than invest in India, they’d move them overseas. It’s all perfectly legal and so many are leaving that there is safety and anonymity in numbers. What are the even richer ones doing? Let’s leave the fleeing millionaires aside and leapfrog to billionaires, or even more specifically, dollar billionaires. Most, if not all of these, would be entrepreneurs. It isn’t even that many people. According to the latest data from Forbes, these are only 200 in number. If the millionaires are quiet and leaving, the billionaires are the opposite. They are speaking, often loudly and volubly praising the government, parroting its “fifth largest economy and third soon” and “fastest growing large economy in the world” mantra, and staying back in the country. It is just that they are not investing and not because they have no love for India. This is despite being repeatedly chided by the finance minister. It is just that if smart entrepreneurs see no demand, what should they invest in and why? It isn’t their burden to pull out their shareholders’ reserves and build assets nobody would use or goods nobody will buy..... The Prime Minister said the other day that Indians buy about 2.5 crore automobiles in a year, which is more than the population of many countries. That’s true. When you check out, however, who’s buying—the lower end cars have inventories piling up while the premium ones have waiting lists—you know how fatigued the middle classes are. As they see how the new politics is unfolding around them, they are infuriated. They seethe at the growing phenomenon of all political parties, now with the BJP in the lead, taking their tax money and spraying it among the more numerous poorer classes to buy their votes. Over the past 11 years, BJP governments have distributed about Rs 20 trillion already as straight giveaways, including free grain and now this gravy train is running on a double engine. That’s because all of the electoral politics in the states is now purely transactional. This is how much I will pay for your vote. This politics is Robin Hood with a twist. At least the original robbed the rich and distributed to the poor. The Modi governments have been soaking the middle class and giving away to the poor. While at the same time, the superrich, especially the richest, enjoy the lowest taxes ever. more  

I once sent a telegram to the union home minister in 1978 regarding the gossiping by CID from Pondy. I also sent a registered letter CJI. These caused intense activity by them making use of their influence in Political and Government circles, I and my one year old daughter suffered a lot since then and continuing. There is interference in selling my village residential property in Saripalli, Ganapavaram Mandal in West Godavari / Eluru dt. I gave a complaint in AP spandana and sent information to Endownment dept in 1922. It is of no consequence so far. It is about 50 years and still suffering being aged 79 years. They are so powerful in AP circles. Now I am staying in Telangana Hyderabad. I am sure nothing comes out of complaining to authorities in Indian Democracy. I received a mail from CVC and am sure that replying to them result in more troubles to me and my daughter's life. more  

The worst affected are Non Pensioner Senior Citizens. On the other hand Govt is paying Old Pension Scheme and the total out go there is breaking the back bone of the Country. There are approx 14 Cr Senior citizens and hardly 1-2 Cr are covered under Pension. For Balance 12 Cr it is better if Govt increases Interest on SCSS to atleast 9-10%. On Medical also Govt must give relief to Senior Citizens by waiving off GST on their Tests and Hospitalization. more  

That is the irony. Even an autorickshaw driver earns more than Rs 1000 per day in Meto cities, thereby having annual gross income over Rs 3 lacs. But the categiry is low income. Only salaried middle class keeps suffering. more  

Dear Mr Mohit Pande, Your write up is widely being used by various people on WhatsApp, claiming to be their own. Regards, Nina Malhotra. Sent from my iPhone On 12-Sep-2023, at 11:37 PM, MOHIT PANDE wrote:  more