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Again, it is a tricky definition, but let’s make a wide sweep and describe the middle class as anybody who would normally have some surpluses to spend on something more than basic subsistence, which includes food, children’s education, housing, health and basic mobility.
It is that wide class, ranging from, say, those earning Rs 12 lakh to Rs 5 crore per annum that is simply sitting back and hurting. They aren’t rich enough to emigrate legally along with assets, are taxed at high rates, and have also seen their investments lose value over the past year. Fun fact: the richer among them, say those earning Rs 2 crore and above, pay almost twice as much tax by percentage of their incomes as the top corporates or multi-billionaires.
https://theprint.in/national-interest/middle-class-is-addicted-to-modi-slowing-growth-stalled-reform-oppressive-taxes-dont-matter/2461727/?amp