Umadbro
Stealth4mo
Middle class is not determined by income alone. But so called intellectuals tend to deliberately misunderstand it to make a non existent point.
This is a good explainer: https://www.thediff.co/archive/cars-manufacture-the-modern-middle/
Broadly, the class of people with certain economic stability and security and yet vulnerable to economic shocks and externalities. That’s the demarcation between rich and middle class. Whoever ignores it is kind of making a fool out of you
LooseGoose
Stealth4mo
Your explainer is a history lesson, not much of an explainer. Even those who have cars in India are vulnerable to economic shocks, car ownership itself being limited to less than 10% of India.
You're the one who made a non existent point lol.
SickleHammer
Student4mo
Anybody using "so called intellectuals" to refer to academicians using data is ultimately recycling the same talking points lol
Kisse_kahani
Deloitte4mo
It doesn't only depend on how much you earn but also on how many dependents you have. A person earning 60 lpa might have his parents, a wife and say 3 children which makes per head less than 10 lpa. And don't forget taxes..this person would be giving 12-15 lpa as taxes. So individual disposable income might be high but at ground level he might be just meeting his bills.
LooseGoose
Stealth4mo
Parents will eventually pass on and kids will grow up too. They also get support from both generations. It's not exactly a one way street for the most part.
Kisse_kahani
Deloitte4mo
Then parents might depend on children. See, thing is we can't look it on that simplistic way. And fyi, there are a lot of people now, who depends on their children. And the circle goes on.
Lowser
NoCompany4mo
Bhai agar 60 lakh kamakar bhi ghar afford nhi kar pa rahe ho to rich kaise ho gaye?
DevD
PayU4mo
This going to be a inspirational story, from all people having 65LPA not everyone is rich, my friend working in Amazon has 75LPA base 25LPA stocks is not rich because he also support his family his father was a farmer, farming on others land he has been also supporting his two younger sisters education(MBBS from private), he also build a house for his family, 4 year back when he was working for Target with 32LPA base I visited his house his house was with tin shelters not a proper celling, now he have built a good house for his family.
He has removed povey from his family but still don't consider his as rich because he have zero savings and next whenever he get money he wants to buy a car, currently he owns yamha Fz and he bought a scooty for his father, after owning a car he wants to buy a house in BLR this process take 3 more years, so long way have 1ct CTC but still not rich.
LooseGoose
Stealth4mo
Having a car, bikes and a house is pretty rich for Indian standards. Idk why people keep trying to defend this mentality and idk which India you're living in. I'm sure wherever he is also has many more people who still have tin houses around him in his hometown.
He can easily save when he wants, he's choosing to spend and stay "poor" so to speak. Financially irresponsible if anything, but he has assets he can sell if emergency arises.
DevD
PayU4mo
So you mean to say, Car on emi house on emi is pretty rich?
TezBilla
Infosys4mo
and then people post whether 60 lacs is enough to survive in Bangalore
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