'India must revise its definition of middle class. Those earning Rs 1 cr aren’t ‘rich’ anymore'

[@IceCreamIsJoy]

I am earning 24lpa and I am considered rich paying heavy taxes, neither do I have an own house nor any property, not even land.. tomorrow my job goes I will be on the street.

[@Gajjala-oi4cc]

I don’t want to have the privilege of commenting on you as I don’t know under what circumstances are you in, but considering you’re young probably in late 20’s or early 30’s and married or about to get married and earning 24L a year then if you’re without a land, house then it shows stupidity of not starting something like having an apartment atleast to begin with unless you’re investing in different portfolios.

[@shivkumar36]

Not fair to say it's stupid, every person has their own definition and priorities. No harm in being polite please​@@Gajjala-oi4cc

[@astitva5002]

​@@Gajjala-oi4ccbrother have you seen the housing prices? if you don't have ancestral property, owning property has become the worst liability as an asset. you can hardly buy any property in black anymore, the taxation basically doubles the price, if you're buying in a decent locality close to the city then either you're compromising on sq ft or you're paying impossible number. even if you manage to buy property then value appreciation is literally worse than inflation and hardly any buyers you'll find. if you're wise as a youngster you should instead somehow develop a stable corpus in mfs or etfs and rent rather than purchase. of course rents are also sky high compared to salaries. it's not stupidity but common sense to not even think of property in this day and age. owning property is a luxury and it shows with the projects coming out these days, there's just premiumisation.

[@newchannel-bu7tj]

@@Gajjala-oi4cc He needs to keep that high income over multiple decades and save money then he can buy a land or pay EMI to house to make his own. Which is not guaranteed given the current hire and fire job market. Unless you have ancestral wealth your cooperate salary of 20+L does not make you rich. You can live temporarily as rich.

[@theunknown2090]

​@@Gajjala-oi4cc rates of apartments r highly inflated. Why should OP buy 1-2cr apartment take 10-20 year loan, in this pathetic country? That's the whole point his/she is trying to make. With no job security taking a loan for long period makes no sense. Our gov want to make money on gst on health insurance, this is completely pathetic Let gov parties also pay taxes and reduce the services they use.

[@rishavmalveeya]

Here in Himachal many horticulturist earn crores of rupees and don't pay a rupee in Tax. Tax should be based on income not profession.

[@sadanandgote5544]

No party has guts to tax farmers.

[@jothiramalingamjothi5679]

No one asks questions against the government doing writte off corporate loan and corporate tax percentage low

[@rushikeshpatil801]

​@@jothiramalingamjothi5679every government does that, even Chinese did in their starting phase, many Chinese firms are saved by the government..... The reason is that the government cannot employ every citizen,but corporates can do.. But I agree that there should be a certain limit to wave off these loans or at least they have to repay after some time... Man this is fucked up..

[@abdulrahoof8785]

But it's not happening anymore. For the past 5 years, no hike in salary, less job and u say it's gonna help. Still u believe it's gonna work in India. And one more thing AI!! It's gonna take the huge jobs, so common people will struggle for years. By then rich would have everything. ​@@rushikeshpatil801

[@jothiramalingamjothi5679]

@@rushikeshpatil801 you can't understand every government same but media can discuss people issue now what happened in india No one ask questions modi Normalised issue danger to nation

[@SunilShahu17]

Rents are skyrocketed. Real estate is at moons. Middle class is not able to catch up for rent and aspiration of home purchase. Rents are 40-50k in metros while 2bhk costs over 1.2cr at decent 5km far location from work. EMI for this will be 90k approx leaving nothing in savings. But taxed at 30% by our beloved Modi and Nirmala tai! These fools in government have lost touch with reality on ground.

[@dipayanghosh1159]

Yes rents are 40k if you want very luxury rooms only

[@praveenkumar760003]

​@@dipayanghosh1159 which chemical are u sniffing can u tell us😂. Ganwaar Go & see the rent of normal non to semi furnished flats in metros. Their rent has already touched 40k, leaving aside luxury. But ur kind staying in an jhopadpatti PG won't understand.

[@praveenkumar760003]

​​​​@@dipayanghosh1159which chemical are u sniffing can u tell us😂. I believe u r far from reality as u consume lessons from cheecha school of whatsapp university🤡😂. Ganwaar step foot outside & see the rent prices of normal non furnished to semi furnished 2bhk in metros, leaving aside the luxury. The rents has already touched 40k. But ur whatsapp kind wont understand that😂

[@Quantum-Thoughts-2024]

@@dipayanghosh1159even babdly maintained 3 bhk in Gurgaon are asking for rent > 45k. In Banglore some owners demand whole year rent upfront as security.. Thats the ground reality.

[@demya3464]

Yes correct

[@AbhishekTibrewalnoida]

I am paying 30% taxes since last 8 years. Currently my annual income is 45 lakhs. Listening to this anyone will think i make good for my living but the fact is medical inflation is off the roof. My wife suffers from a rare Critical disease and ahe can't get insurance. I have spent more than 2 Cr. In last 7 years on her treatment with Zero support from Govt in terms of Tax relief or facilities. I was job less twice in these 7 years, qhat support govt provides me during this scenario, Zero. They only want my money, not me... India loots Hardworking people and gratify freebie seekers...

[@arjitmishra100]

sending best wishes to you and your wife.

[@dollargeek4016]

Wow I don’t realize things got this bad in India. I left India 13 years ago, I guess I don’t regret my decision

[@RAHULPANDEY-lg9lx]

If congress came to power, situation would have worsened. Moron gandhi was talking about wealth distribution. Means any bangladeshi or rohingya living illegally in India would be given money and money would be taken from hardworking Indian hindus.

[@manojgoel3910]

There is only one mantra that India has to follow “widen the tax base” meaning at least 80 crore people need to pay income tax and not 4-5 crore. Farmers, all small and mediam business need to pay tax

[@rahul.murali]

Couldn't agree more. Tax should not be based on profession, but income/ profit. Farmers, business men hardly pay any tax.

[@Naruto-Uchiha724]

@@rahul.muralidon’t know about the farmers but look at the amount we business men pay in income taxes. You only pay for taxes once we pay them twice first we pay on the total income earned by businesses as tax and then we pay on the remaining amount credited as salary in taxes as well

[@anujsethi7845]

​​​@@Naruto-Uchiha724our business taxes are low if you compare them with the international markets.

[@mukundhans]

So 80 crore people, it should be somewhere around 20 crore tax payers as one family of 4 will have one tax payer as one person or two are working in a family. so 1/4th of 80 crores. Very strong case made by Print to boost the consumption and overall economy.

[@doncorleone3901]

even then you won't be spared. So atleast let them take advantage of the situation

[@oblivion_007]

If earning one crore a year is not rich, I am 100 lightyears below poverty line!

[@joydeepdas32]

Smell the coffee, 1 Cr is dirt poor ... seriously...

[@oblivion_007]

@@joydeepdas32 one crore per year is not dirt poor. You are insulting 99% of Indians.

[@bhofdikalullah]

Iss jhatuey​@@joydeepdas32bhangali ka tax badhao

[@zangoz_2693]

Bhai, 1 cr is very much not rich! Rich would be laughing at us! 1cr might be upper limit of the middle class, but definitely they're not rich considering the inflation

[@LikeDeep-q6w]

@@oblivion_007 1 Cr is considered Below Poverty Line (BPL) nowadays.

[@vjcsit56]

You have brought a great point forward if Govt keeps taxing this bracket at 30-35% most people will leave the country as soon as they become skilled and productive. Govt does not provide any Healthcare, education to these sections and even basic necessities like water, electricity and roads are also not provided by Govt. It's a daylight robbery

[@alphabetagamma12]

I agree the incentives for skilled people to leave increase. The tax rates in the west are high but at least the quality of life is better than a crowded metro in india.

[@Aristotlein21stcentury]

You pay for free bus rides, free electricity and 2000 rs that goes into account of the others.

[@stsrinivasan7855]

Many top company employees are under a lot of stress and pressure at work. They're sacrificing their health and happiness for their families, but the high taxes are making it harder. Some employees are even thinking of quitting because of this reason.

[@demya3464]

If they provide to middle class -loeer class will demand more

[@SHOBHATIWARITHECREATOR]

forget about road , we dont have clean air , trashing and spitting all over the place

[@gauravpatilg]

Dear AAP, Congress & entire opposition, kindly take a pen and paper. Note everything he says and repeat verbatim in Parliament. Speak for the middle class tax payers.

[@vsansanv29101_sd]

lol they did not listen to there own bjp leader SWAMY how they listen to congress

[@adityarajeshwakade8279]

😂😂😂😂😂

[@dr.a.m.5630]

U don't hv guts to directly ask the govt.to listen to him😂😂

[@chintansurana9017]

Only about 3% people pay taxes. They are distributed across the country, in different states, are from different social/religious groups, speak different languages, etc. hence they aren’t a vote bank. So no party cares.

[@parasapan]

They busy on senseless caste senses

[@Random-pk7sl]

Bro called me poor in so many ways😮

[@jainaaush]

😂😂

[@Aristotlein21stcentury]

India doesn't need this much tax for growth and build infrastructure. Just stop giving free bus rides, electricity, 2000-3000 on accounts.

[@coconutpunch123]

Increase corporate tax, stop giving freebies for fraudsters like adani and ambani.

[@alileevil]

Stop blaming schemes for the poor when it is the rich sucking India dry. Adani got land at Rupee 1 per square meter in Gujarat and Ambani got land at Rupee 102 per square meter in Navi Mumbai where there is an airport and a seaport. The average selling price for land in Thane is Rs 1,02,475 per square meter, and Rs 1,76,275 in Andheri.

[@alileevil]

@@SachinRajput-m4s4b I am only pointing out how everyone blames schemes for the poor while forgetting how the ultrarich are given much more benefits by the Government.

[@bharanireacts-official]

Women likes freebies

[@bharanireacts-official]

​@@SachinRajput-m4s4b then its your problem not ambani problem

[@SLOANchetan]

As part of this middle class i urge all my fellow middle class people to start a 'no consumption ' movement.... Lets make these people realise that if we stop consumption in this country the money flow will halt and halt for good!!!!🔥

[@dasarisuren]

Exactly what's in my mind. It's time we all unite by dumping the diversities (Caste, religion, language etc..,) that has been created all these decades just to divide us and rule. It makes sense now.

[@rajnishtiwari6515]

Well it's already happening, atleast the PPL with common sense are not in this rat race of taking loans for mere show off. The hard fact is you can not afford house/car in a metro city, even if you are in highest tax bracket .

[@thishandle123]

​@@rajnishtiwari6515but house sales are at peak

[@millennialmind9507]

Start saving and push the money in things like Mutual funds from India and USA. Then the real fun begins

[@jshivasubramanian273]

I am already doing this. Keeping my Consumptions to Min

[@mymagicworld6544]

In India everything is crap yet its too costly. We always moaning about rich past and culture and heritage but blind on our present.

[@abhinavbansal9396]

Middle class paying taxes and govt giving freebies and free food to poor. Meanwhile middle class doesnt have any security of any kind

[@cricket_football2093]

these are no freebies, there are no jobs for people, they are in poverty if you want more taxes,ask from the corporates and ask the government to create more jobs with the help of public-private ventures the freebie which poor get is 2K per month ,that's 24K per year what will they get out of it.

[@RohanKumar-g1s5b]

@@cricket_football2093 If the freeloaders want something from the rich they should ask themselves. We middle class want less taxes on us if there is no improvement of our lives.

[@anonymous55870]

Sab freebies in bangladeshi rohingyas ko ja rhe

[@sushilpahari5667]

Who gave some people right to save crores in banks on the other hand some people are starving to death. This can not happen

[@arjitmishra100]

​@@cricket_football2093 let's say that in a small colony where 1000 people are getting 24k per year. That's 2.4 cr. You can create a skill up institution and create a job with it which opens doors for economic growth. But the people who get this just want freebies. And if these 2 3k per month are going on EMIs for things like tv mobile bike etc. We aren't paying taxes so you can pay emi for these things

[@indianskeptic3451]

For a family of 4 plus 2 senior parents, annual gross household income below 15 lakhs is not middle class. 15 lakhs gross annual household income is min for being classified as middle class.

[@theprofessor675]

My compensation is well near the upper limit which you mentioned. over 23+ lakh is income tax which i pay every year. Due to high medical expense for both my parents i was literally pushed to the brink. My CIBIL score plummeted as other commitment cannot be overlooked. its been like 3 years now and paid back my debt. Even my startup failed during this time. Now i am trying to buy a house. Bank deny it that they cannot provide loans to me due to bad CIBIL. Govt on the other hands extort tax in broad day light. How could you call me a Cheat(According to Banks) and a Honest Tax Payer (According To Govt) at the same time. Frustrated i am planning to leave this country. That's the best i can do now. I had been doing charity for last 18Years. I don't have plans to continue it

[@DesiFunnn]

@@theprofessor675 Indian govts taxation policy is - pay taxes as long as you earn, if you loose your job then you are on your own .....

[@mrunalagashd5277]

This is what happens when u take a lady who has done crash course in economics as a finance minister

[@praveenpayiran]

You must be naive to think she too a crash course in the first place!

[@balbhardwaj9498]

The income slab of Rs 10 lakh to Rs 1 crore a year is too wide, it needs to be further divided into more slabs

[@alileevil]

100 % I literally rolled by eyes when the news anchor stated this statistic.

[@godfathere003]

anchor is trying to protect his income from high taxes 😂😂😂...

[@alileevil]

The problem isn't tax, but rather how we do not feel the effects of it. People would have no problem paying taxes, if the govt actually used it well. Corruption and the lack of accountability should be the prime focus of the Finance ministry. For instance, the Modi Govt has spend more than 11,000 crores on the so called "Smart city" scheme. But I have not seen the effects of the scheme at all.

[@bestofsatish]

Decent Flat of 1000sq ft cost 1.5 crore. for a middle class that is closer to 10 years salary. Back in 1990, decent 1000 sq ft apartment cost 1 lakh rupees which was about 5 years salary. if you build your house, it costed only 50 thousand with land prices at 1000rs per 2400 sq.ft. food prices have gone up 50 times from rs.5 to rs.250. education costs are up 100 times or even more. These are the major spending. Obviously inflation is not 5-6% which govt provides. it is likely to be above 10% for sure or even more. So a middle class would be defined as someone earning 50lakhs/annum. 10-25 lakh/annum is lower middle class. between 5 to 10 lakhs, should be considered above poor. anything less than 5 lakh is outrightly poor. Only who are earning above rs. 2 cr can be deemed rich

[@doncorleone3901]

Fantastic analysis, bang on

[@yevodee4024]

@bestofsatish “Decent Flat of [...] be deemed rich” =========================== Don't go into all these maths calculations. Maths did not help Einstein to dicsover gravity. Just work 70 hours per week, pay all your taxes fully, that is all you are supposed to do.

[@atherzaidi5871]

You pointed out something, about which I was about to write a research paper but did. Not get time from. Work and family. I call it middle. Class inflation. So. School fees and university fees increases by 10 % per year., but government considers government school fees in Inflation calculation. Similarly private hospital prices are increasing above 10%, but government inflation calculation is based on generic medicine and public. Hospital bills. Same is true clothes. There is a difference between price increase for a Levi's jeans and khadi ashram cloth. So all items and services which middle class likes to consume like. Private school, private hospital, private transportation, air travel, eating in good restaurants etc is easily inflating at twice the official inflation rate. So while price of rubber in wholesale might have just inflated by 5%, the price of tires is inflating at 10%. Middle class. Inflation is twice the official inflation rate and higher than growth rate. To maintain the same standard of life your salary has to increase by 10% to keep the same standard of living as last year. If your income has increased by less than 10%, than you have actually turned poorer this year. This is my theory ofcourse, it would need some. Concrete data analysis to prove it.

[@alileevil]

You cannot classify wealth based on inflated real estate prices. Earning 50 lakh an annum is equivalent to 4 lakh a month. I am not sure what you are buying if that much money is not enough for you, but it is definitely not middle class in a country where most people do not even make 4 lakh a year!

[@PiyushJain-no5qi]

Right bro

[@mrr5358]

Modi hates salaried class but salaried class loved him but it will be changed next election in Delhi

[@coconutpunch123]

You cannot remove him power. He will manipulate elections like he did in 2019 and 2024.

[@Bruh-og8rb]

Middle class now have new lover.. aravind

[@mrr5358]

@@Bruh-og8rb he is in rush to provide free bees

[@balakondareddyparvatharedd5066]

Earning 1cr is not rich in India. This is the greatest joke i ever heard in my lifetime. If Everybody compares with lifestyle of Ambani obviously they feel like they are poor. Stop comparison. If at all you want to compare , then look at other 99% people who earn less. You feel happy.

[@shalabhpradhan529]

Point is not 15 lakhs or 1 cr, its the number of dependents. Consider a family (husband,wife,kid and 2 parents), now if the household income is 20 lakhs with 4 dependents then ideally we should consider 20/5= 4 lakhs as per person income for the whole year(or 20/3= 6.7 lakhs per year if the 4th member is a minor we wish to exclude him/her). Hence simply taking the overall income of one person without considering dependents is an incorrect way to determine personal income and thereby in correct way to levy personal income tax.

[@krishnathilak]

Good point. They should be some concept of dependants. Like US - a couple can file income taxes together or seperate based on the benefits. The tax slabs should be for couples and have a deduction on dependants (children)

[@niteshgupta4506]

Totally agree, if only our politicians cared about us

[@nagendraprasad52]

Pls rename middle class as HONEST TAX PAYING CLASS

[@lantherpagdi]

or BAKRA CLASS

[@shobhitkaushik2002]

Decent Flat in Gurgaon starts from Rs 3 crore onwards. If u take 15 yrs loan u end up paying Rs 6-8 crores. Middle class can't afford it

[@terrybatman]

Yaar that’s just more black money moving around

[@GururajBN]

The socialist hangover is hard to overcome. Leftists and socialists disparaged the middle class. UPA government steeped in socialist drunkeness had little time for the middle class. Though NDA government does not profess socialist economy, the mind set is just below the surface. NDA and BJP have exploited the nationalistic spirit of the middle class and have immensely benefited. But, they have hardly addressed the needs and aspirations of the middle class people. This video is a timely clarion call. I hope that our highly opinionated FM will pay attention and heed the suggestion.

[@satheeshbalakrishnan1657]

100%

[@lantherpagdi]

BJP is just saffron color congress

[@MARKCRASTO]

Check 10yrs of UPA and 10yrs of NDA data. UPA created far more inflation adjusted salary growth than the NDA. Despite the 2009 financial crisis and the eurozone crisis that followed. I agree that socialism is ass! But BJPs version of capitalism is really falling short. Even inflation adjusted stock returns were much higher in the UPA, and there was no tax on MFs. STGC and LTGC was lower for ALL assets. Terms for 56EC and selling of land were also much more favorable. That's why u should get your education from real sources and not whatsaap 100%

[@roushanabhishek984]

@@MARKCRASTO Despite very cheap crude oil prices also. UPA in its last term struggled due to skyrocketing crude oil prices but we blamed it on scams scandals etc.

[@braunarsch]

lol she ain't gonna do anything. she just gonna frown and call you a facist and then increase the tax rate by 5%

[@acesib]

Also, 10lac to 1 cr is a ridiculous bracket.

[@yennapallyvamshireddy3590]

If people earnings 1 core are middle class, 99.8% of india is either middle class/ poor. Taxes need to be reduced, but people cannot be delusional.

[@moonteeno1]

You cannot create these definitions based on relative earnings. Class is an absolute term, middle class should not be worrying about raising 2 children, affording a house in metro, owing basic neccesities, and moderatly indulging in recreational activities. 1cr might be an exaggeration but even someone earning that kind of money in salary is not immune to worries of housing, education and healthcare. Also many attain this level after grinding for 15-20yrs in corporate and jobs are uncertain. So this is definitely not delusional.

[@PapiyaDutt-c3q]

81 Cr VOTER free ration asking why 6 7 PC lakh lakh PM salary to 3 Cr GOV employee when 130 cr VOTER facing inflation

[@eldamarmaiar2457]

No, people earning ₹1 cr. per year are definitely rich. Even by western standards. 1cr= 116000 USD. Median salary for H1B visa is around 65000 USD. This salary is only offered to highly skilled people. They are considered among upper middle class in USA. Stop comparing yourself to billionaires. Even in Europe 60000 usd is considered a decent income. There they are considered middle middle class.

[@mukundhans]

the govt. does not think about middle class as they are not govt's vote bank. It is high time, we moved away from a Vote bank based decisions to real economic decisions to boost our consumption, which will in-turn boost the sagging investments as demand goes up, and increase the employment opportunities. Else we are spiraling downwards and sacrificing growth for the politial welfare of the ruling party.

[@tusharranjan8649]

15lakh to 1 crore is too large a bracket!

[@akshayde]

For you but not for Yeh country and it's economy. This is the bracket that will keep moving up of not burdened with taxes. The 1 cr people will move to 2cr and about and people making 15-24 lacks will move up in some years to 36-40-50 where they will invest in businesses or start their own things and get to the 1 cr cap and move up from them.

[@LearnWithBharath]

1 crore annual income is middle class? then I'm poor.

[@keyurshah5011]

Then I'm the poorest 🌚

[@vvgame]

Then I am in poverty line bro

[@Gkrishna4u]

If the middle class bracket has to be revised then we have to revise the bracket for poors too. Earning 1cr in a year is not rich (less than 1% of people earn 1cr in a year) means, earning upto 6 lakh is poor. In india, 50% of the people earns less than 15000 per month.

[@AdityaRaj-kb1uo]

Stop talking about the ones who earn 1 cr and aren't rich. Think about the majority of those who still earn least amount of money from their job in some unorganised sector like construction companies. They have to work for 12 even 14 hours at minimum wage, there is no guarantee of increment, they are fired whenever the boss wants to while the boss keeps on flaunting Land Cruiser and G Wagon. Unfortunately, the number of people dependent on such industries is strikingly high. Since all those contractors are close to the govt. , no one can do anything about them. You may consider the recent murder of the reporter by that arrogant contractor.

[@Monk-wv4ub]

Do not expect anything from any government. Yes but we must raise our voice. Middle class must united.

[@ArunavaNandy]

Government of India should increase the compliance and tax the rich farmers , pani puriwalas and all as they are more than ₹2L a month with giving any tax

[@elpsykongroo8308]

To people who are stuck on his line 1 Cr is not rich....he did not imply that 1 Cr is poor....he meant we should consider 1 Cr as middle class....colloquially we do call these people upper middle class....its just that the tax rates do not reflect that....also why do people's arguments for a progressive tax rates fissile out after a certain threshold of above 10 lacks per year?....And he is right in saying that it is basically this group that is driving the economy....even most online retail and delivery app comapnies acknowledge that this is the segment that is driving most of their sales....hum unke liye nahi toh atleast country ke economic growth ke liye upper middle class aur rich logon ko demonize karna band kar sakte hai.

[@sushilpahari5667]

Ok let some people earn 1cr annually and on the other hand some people starving to death..This can not happen.

[@book--worm]

WE DEMAND " LADLA BHAI JOJNA " otherwise no vote

[@sanketnegi1]

You and i do not matter.. We are hardly 3-4 %.. Majority is 90% people who are poor or below poverty line.. so giving freebies will give them more votes.. Also these 90% can protest.. We can not protest

[@lantherpagdi]

@@sanketnegi1 that's why we get out of that country and let them feel the heat

[@nileshsalunke5915]

I crore a year arent rich!!?? Have you gone mad ? 1 crore a year is quite rich

[@Greasyhair]

No it's not 10 cr is the new 1 cr.

[@ok.mogart]

with 1cr income your inhand income will be 65-70lac, which is enough to live a good life but not rich life. Rich life would be you dont need to take loan to buy property in metro cities.

[@Greasyhair]

@@ok.mogart Decent property costs 5+ cr. Good car costs min 25 lac. Monthly expenses in metro is min 3 lac pm how do you plan to buy property without loan or inheritance.

[@akshayde]

Nahi bhai. Ab nahi hai. 1cr Mein bhi tum jindagi bhar naukri hi kar rahe hoge if you have a family and stuff. What you are talking about is 5cr. But that was 5years ago. Now people want to get to 15cr. Uske upar hai tumhara "ameer" ka category

[@ok.mogart]

@@Greasyhair yes 1cr is not enough, inflation and taxes eat away most of your income.

[@ramusurneni]

Sometimes I feel why to work hard to feed government. Instead stay at peace and do some petty job for feeding family.. either of the cases you are left with no money.. so why stress yourself out

[@jda7499]

Great Point. 1. Consumption drives the world. Tax shud be 15% max for salaries between 10lk to 1cr. 2. Paying 35-40% tax like EU Countries and Getting facilities like 4th world countries is stupid Th

[@pacyhitman]

lol but how will governments fund their freebies then? Don’t use too much logic, our politicians are allergic to it

[@SumitKumar-yw3pb]

yeah but the issue is only 2-3% of the population pays income tax, and less than 10% of these 2-3% comes in these 30% Income tax or Higher slab. We need to broaden up the Income tax base and include at least 35-40% of the population, and shift toward more progressive taxation like Europe and US where even a Restaurant waiter, daily wage laborer pays at least 12-15% income tax.

[@theunknown2090]

​@@SumitKumar-yw3pb good point, but now the opposite thing is happening the among the 1-2% who can leave are leaving india. So our current tax pool is shrinking. Gov gotta do something fast. Or else that 1-2% will be 0% soon

[@SumitKumar-yw3pb]

@@theunknown2090 Leaving India? Lol, nowhere in the world can they have the same lifestyle they enjoy in India with a high income. For example, they would have to pay much higher taxes in the West, and they would lose the luxury of having cooks, servants, and drivers, as they would need to do all those basic tasks themselves. I can say that maybe middle-class people are moving out for a better lifestyle, but rich Indians love India for multiple reasons. Also, regarding your tax data, check your facts. These 2-3% of people contribute almost the same share-around 30-35%of total tax collection. Surprisingly, GST contributes almost the same 30-35% to the overall tax collection.

[@shyamcgl8028]

Do you even pay 20% as income tax? What's your income? How much income tax you paid?

[@manojm5747]

One more point to cover is on an average 3 people are dependents in a family of 4 with one bread winner in India.

[@go64bit]

1 crore a year comes under affluent. 30-40 lakhs would have been a better upper range for middle class.

[@ininjad24]

Very well said, Egjactly!💯 The tax laws impose an inequality on 1.5% Indians who pay 80% of the direct tax. Why is this not being challenged from the Equality perspective of our Constitution? As like the remaining 98%, the 2% income tax payers get the same, Voting Rights National Security Law enforcement Judicial system Energy Water Roads Public Transport Communication Municipal services Healthcare Education Why should every citizen not bear the responsibility for the above expenses EQUALLY? If not, why shouldn't the tax payers get preferential treatment in all public expenditure? Those who agree or don't, please comment 🙏

[@Raj-mw9gb]

Today anybody earning 1cr per year can’t afford a decent accommodation for family in a tier 1 city where such jobs are available. No house no land and still categorised as highest tax bracket as if they are leading lavish life is totally absurd in today’s context. The people earning uptil 1 cr should be exempted from paying direct income taxes in India. Unless govt gives that option to people economically all such people will become poor in the coming years. On the other hand you have rich farmers owning tracts of land paying zero tax and are Arab paties. Need serious rethink on this issue.

[@allahuakbarquran742]

The problem is spending money on appreciating assets or depreciating assets. Most of middle class spend money tech goods,clothes,cars, which are depreciation assets but not on buying appreciating assets like gold, real estate or on markets. Secondly middle class have taken loans where ever they can lay their hands never thinking about how they would repay them back and then they complain to finance minister.

[@gdgavali]

I have ctc of 1crore and i am poor.. i don't even afford a car in india. I want rolls royce..

[@coconutpunch123]

Middle finger for middle class 😂

[@AaaAaa-q4v]

We don't need jobs we need to build more temple's.

[@sumeetpalsingh2125]

Many people say farmers should be taxed.Then farmers will also demand fixed msp as they pay taxes .Also if crop failure occurs ,then compensation is must😂😂😂😂😂 .And let me tell u farmers also pay gst in fertilizers and pesticides .

[@aritragupta4182]

Farmers will demand MSP no matter what. Rich farmers should be taxed.

[@PrabhatKumar-ge7jd]

New definition of poor should be those earning below 10 lakh per annum Middle class 10 Lakh - 1 crore

[@GoofyNerd-d9k]

Request to middle class Stop consuming things . Just spend enough to meet your daily essential needs and save as much as possible . Do this for a year atleast dekho economy ka kaisa satyanash hota hai

[@adityapareek7034]

I disagree. Tax relief for 20 lakh or more earners will not affect demand in the market greatly. Savings, due to tax relief, would be invested by the high earning individuals. Whereas low earners tend to buy consumer goods with their savings. Guy having cycle will buy bike and one with bike will go for a budget car. Hence, increase in demand will push the economic cycle. Indian economy is consumption driven ( mostly consumer goods)

[@na4463]

That's not totally right. High earners will spend more on higher value items and that will lift the economy. Lower income brackets spend very cautiously on basics and that will never move the business to produce new and innovative products. Economy can never grow like this. Overall taxes need to come down to boost the economy.

[@keerthi321]

Wft 100cr earner is not rich.. wtf is he smoking...

[@vilakkattulife295]

Salaried class are ripped to the core.

[@Thoughtful6361]

This is very pertinent. The tax burden is killing the economy. The govt failed in widening tax base and also closing loopholes in GST collection. We need simplification.

[@Akshaytanotra]

What the government fails to realize is that the group they are heavily taxing has the option to relocate abroad. Once global conditions improve, people will start leaving, and the tax base will shrink. They cannot continue placing the burden of national development on a small section of taxpayers while using their contributions to fund subsidies aimed at securing votes. This strategy is unsustainable. If it doesn’t change, the resulting slowdown will ripple through the entire economy - and the early signs of this are already visible.

[@burzum8312]

18% tax on health insurance, 18% on bikes, 28% on cars, 18% on private life policies, 18% on hotels, 5% on every grocery from shops. This after paying income tax to support 94% of the population. Taxing people as if everything being provided by government is top class. Have you seen road quality in Maharashtra? Have you seen the poor network density of the metros? Probably only 20% of the city population can use Metro for daily commute. For all others it’s unviable. Middle class and even other salaried people have become the governments financiers not beneficiaries.

[@mg.f.9023]

Great food for thought. The Print is truly understanding the pulse of the common man/women.

[@prashantsaboo4142]

You nailed it so well. It's like reading the mind of the people following in this segment. I wonder when will government understand this logic and reasoning.

[@nagarajuneeriganti8101]

TCA Sharad Raghavan, the point that you have raised is the change govt should make in this budget... i have been waiting to see tax bracket being reduced from UPA times.. this change will increase the collection of indirect taxes. some how govts are not favoring it... i hope our Finance minister watches this video and understand our need... Thank you

[@akhilbavisi8488]

What is needed is revision of tax slab in both old and new regime. Currently slab rates in old regime is 5% then directly jumps to 20% and 30%. Slabs need to be fragmented further and 10%, 15% and 25% slabs need to be created and 30% needs to be moved to 15L+. This will put some extra cash in the hands of people and they will spend it and generate employment.

[@bidyutboruah9827]

They will reduce it so they can show more people in middle class. This govt knows these tricks so well.

[@adityarajeshwakade8279]

My rich friends went out drinking in Mumbai and the bill was 70K rupees. Hes right !!

[@Aditya18893]

The best video till now by the team print 👏

[@PushpakBhoge-dx3hc]

people earning around 15-30 are stuck in weird position where they are not beneficiary of any government scheme and not able to move beyond it. buying house, starting business is too risky one wrong move and finished. 30% bracket should start from 25 / 30 LPA. While the people earning crores are either paying very less tax or not paying any that's the complaint. If you have to keep direct taxes please reduce or remove capital gain

[@acesib]

I call bullshit on some of this data. I am in the 10 l to 1 cr bracket. There is no way I end up spending 40% on food unless I am eating out all the time (even then it would be hard). And eating out would be conspicuous spending. The education inflation bit is true. But more so for those who are hellbent on sending their kids to international schools. The larger problem is what we get in return for the tax. Poor roads, poor public transport, polluted cities. The freebies and corruption is my problem. Also, with more and more digital transactions want other income classes to start paying their share as well. I am not saying no to a tax relaxation for our class, but to say we do not have money left over for conspicuous spending is hogwash. Absolute hogwash.

[@theunknown2090]

Then pay more tax if u hv money left.

[@coconutpunch123]

IT cell

[@akparanjpe]

I agree, cost of living in India is not that high. 1 Cr salary boils down to more than 5 lac a month in hand after taxes. If one cant manage in that then something is grossly wrong

[@GogheoHumeo]

​@@theunknown2090dude u spent 40% on food, wtf what u eating, comment section middle class

[@theenigmaticmirror7815]

In Tier 1 cities like Delhi NCR or Gurugram, property prices for a small 3 BHK are over 1.5-2 Cr. Someone earning 15 LPA can't afford a house but will come into the highest tax bracket of 30%. This is a proper legal tax on terrorism and loot. Nor does this is any health, job or life security given by the government, all the tax money goes to buying votes for the next elections.

[@nick-db8ik]

Middle class in 2015 which was doing well are literally now lower lower middle class. Corporate jobs aren't giving you more than 20k . What would you do in 20k in todays world.

[@Koundinya87]

I think Poverty lines - levels should update. A foot print to ~7 Trillion economy, should consider Below poverty income limits as Villages: ~0-4 lakhs Towns: ~4-8 lakhs Cities: ~8-12 lakhs Metropolitan: ~12-16 lakhs ~16-25 lk are Middle class. ~25-50 lk are Upper Middle class. ~50-99 lk are rich. Above 1cr are super rich. Accordingly welfares to share all. 0% - Agriculture tax, but welfares, subsidies to farmers is discrimination on employees who pay higher taxes to Nation.

[@aritragupta4182]

First the government needs to reverse the needless corporate tax cut it gave a few years back, and tax rich farmers.

[@M_Ahuja]

Completely agree . Many things are outdated in this country . Be it education system , law or taxation system . In city like gurugram , where rents are more than 50k . It comes around 25 to 30 percent of salary of middle class . Fee is minimum 20k . One can imagine situation of urban middle . Gov charges tax on long term cap gain which one saves for retirement and kids education, forget giving any pension like other countries .

[@dkblaze9072]

This is so wrong. In a country where 90% of the people earn less than INR 25,000 you can't say that earning 1 Cr isn't rich.

[@Raj-mw9gb]

Yes it is true, today you can’t buy 2 bhk with 1 cr in tier 1 city where mostly such jobs are available. And you say this to be rich???

[@shyamcgl8028]

Only reach people are dreaming to buy 2 bhk in metro. Not a common rural india​@@Raj-mw9gb

[@pratikkadam2213]

Means prices are increasing i.e cost of living is increasing but salary has not yet reached upto that mark where people can afford those living costs including real estate, travel, education & health

[@dkblaze9072]

@@Raj-mw9gb Then what about those who are earning 20,000 PM? Where do they live? Middle class should mean the middle of the pack. It doesn't matter what you can afford.

[@Raj-mw9gb]

@ what do you have to say about farmers who own vast tracts of land earning crores and still pay zero tax qualifying as farmers and agricultural income???

[@randeeparora5259]

The sad part is that what is being told , the govt is aware but they just turn a blind eye, the economy is dying but just sitting there and watching

[@asitdebnath]

We have one daughter. Her education cost comprises about 50% of total family expenditure!

[@tsp7234]

As always you enlighten us with a different perspective and knowledge you share . Keep up the good work . 👍

[@jufsrdaghyijfrazdsfujngfgo2153]

Here are some other criteria that are used to identify different classes in India: Destitute: Households with an annual income of less than Rs 125,000 Middle class: Households with an annual income between Rs 5 lakh and Rs 30 lakh Rich: Households with an annual income of over Rs 30 lakh Super rich: Households with an annual income of over Rs 2 crore

[@ShreedharaKedilaya]

Middle class is the backbone of any nation... Money in their hand boosts consumption, production and employment. Govt shall take this aspect in formulating the Budget. Consumption boosts GST taxes and savings . So govt shall ensure more money in their hand, It will be a win win situation for the govt too...

[@mvsumanth]

Reduce spending and reduce the profits of companies. Govt will be automatically forced to change things for better. The more we buy, the more careless they are.

[@stsrinivasan7855]

Many top company employees are under a lot of stress and pressure at work. They're sacrificing their health and happiness for their families, but the high taxes are making it harder and most of the employees are even thinking of quitting because of this dual pressure. If the employee sick or something happens to them, will the government help take care of their families?

[@bhadanisandip]

Person earning 1 L per month in hand might be living month to month(consider rent, two kid's education, saving for higher education, saving for house down-payment or house emi which is significantly higher then rent). He will be left with nothing every month. no social security net, not even eligible for any government scheme to get free ration or that matter electricity also. And we are still wondering why Indias are not consuming more.

[@lantherpagdi]

The real problem is that the taxpayer is getting below substandard services in return for the exorbitant taxes they pay.

[@amitpawar6247]

Earning 25k is also middle class and earning 2.5 lakh per month is also middle class😮

[@manikantam7194]

We should do a Bandh for one day and stop buying anything Taxable. Though this may cause loss for businesses which can be recovered down the week, It will be a wake up call for Government

[@sachinvkumbhar19]

please share this as much as u can. ground reality

[@Starudneutral]

Govt will do nothing. It's all about election funding and vote bank politics

[@StudioJK43]

There is absolutely no control of the Government on the following . I am hardcore BJP person but Modi Govt have no control over all these needs of common Middle class persons is very very true. 1. GST rates very high on daily needs and essential items. 2. Even the Edible oil prices , dal prices growing more than 10%pa 3. Medicine prices are growing more than 20% pa. No control 4. Hotel food rates are growing minimum 20% per year. They are reducing the quantity and size of dishes and on the other hand increase the rates. 5. Transportation cost is increasing. On the other hand returns on investment is reducing. How Retired persons can manage the things. Poor is getting attention but middle class is the most sufferers who is actually a core voter of BJP. They are taken as granted is for sure. Modi govt fall in 2029 could be only on this ground in spite of their commendable achievements in many other areas. But if middle class is wake up it will be difficult for BJP. 3. Liqueur, Beer and all drinks prices are absolutely under no control. Inflation is more than 20% pa on these kind of so called luxury / non essential items.

[@navinshettigar5137]

Anyone who earns more than 50 lakh pa mandatory contribution of 10% into a government fund that will be used for education, infrastructure, & health for all citizens, have fixed return of 5 % pa withdrawal after 7 years each. All institutions that draw from this fund should be certified and allowed to avail loan at 5.25 %, it can be game changer as per me.

[@PraveenMuppaneni87]

Why do indian govt need income tax. Indian indirect tax is already at the level of cruelty.

[@hengongchua6250]

If not how could the top goverment people and politicians and their family members going to maintain their luxury lifestyle?😂😂😂😂😂

[@NileshBhosaleRocks]

Thanks for bring such important issue, while in metro on average family is paying upward of 3.6lac in rent, minimum utilities bill 1lac, 1.5lac in groceries, in a year and school fee of 3 lac for 2 children 8 lac is basic income post tax is require for survival in metro. Even government recognised family income below 8 lac as economical weak section status. Then how come tax slab start from 3 lac and maximum slab starts from 10 lac for old regime and 15 lac for new regime. Current gov is insensitive towards middle class and most people are actively thinking about leaving country rather then contributing back to economy.

[@DEEPUMONSTER]

While I'm handing my whole family with10k per month 😂😂

[@Zeunknown1234]

​@@DEEPUMONSTERso fake

[@ravi-it3vj]

don't reduce any tax to the middle class. The government has already done enough for the middle class Ram Mandir Article 370 Mosque survey UCC etc. Rather increase tax for the middle class so that the government can start developing India like we were in ancient glory time.

[@AJinc5]

what is remaining to be defined. there are now only 2 classes. The utter rich and the poor. The middle class is finished due to multitude of taxes

[@akhtarpathan1778]

Reduce the taxes for corporates, reduce the taxes for personnel and increase the taxes on goods and services, that's how inequality gets reduced, what a thought!

[@YogeshKumar-hz4sk]

Ideally if government has problem on putting tax on non-service class, remove income tax and increase GST All will be under the same umberalla

[@wingrideryash]

Indian middle class can be renamed as cattles, it's source of milk for govt how much they take no one will ask, and there will be little left for middle class family to spend. Horrible situation for middle class

[@Quantum-Thoughts-2024]

With the current attitude of the government. A income tax cut for the so called middle class seems highly unlikely - but lets keep our fingers crossed.

[@ick-625]

They will give some standard deduction increase, to potentially also help the mkt demand but otherwise just make new regime attractive as possible in in continued steps as they have been doing until it becomes preferable for close to half the tax payers. Broader focus should be to increase the tax base for direct tax but that will be politically difficult else it would have already happened..

[@samwienska1703]

There's no such thing as midfle class anymore! It is just four classes , 1. Ultra rich = roughly 3%, 2. Rich = roughly 17%, 3. Poor = roughly 30% and 4. Ultra poor = roughly 50%. Ultra rich class almost never contributes in income tax. Ultra poor never bother about income tax. Rich class can manage living in tough times. It is the "Poor class (who thinks themselves as middle class and majority falls under OBC's) are the ones suffer a lot. These are the people who are just short of three EMI's away to be a pauper and into roads.

[@nani5987]

Very well put Sir....i can say that my savings are vaporising ever year

[@amar5216]

Commoner and Salaried class are one of the most exploited ones after farmers