A recent viral post by a fintech professional has ignited heated debates on social media regarding income inequality in India. The post, shared by @fintech_shark on X (formerly Twitter), declared that individuals earning less than Rs 60 lakh annually should be considered “poor.” This controversial statement, which was quickly amplified, caused intense discussions about financial status and class distinctions in the country.
The post elaborated that those earning less than Rs 60 lakh per year, after paying significant taxes such as GST, income tax, and VAT, would have less than Rs 2 lakh per month in net income, which would place them in the middle class. Furthermore, those earning between Rs 60 lakh and Rs 1 crore were classified as middle class, while those making over Rs 1 crore annually were considered upper middle class. The post also claimed that “generational wealth” is necessary to truly be considered “rich.”
Many users disagreed with the statement, highlighting that the terms “poor” and “rich” are highly contextual. Some pointed out that in rural India, a family earning above Rs 40,000 a month would not be considered poor. Others expressed frustration with the perceived inaccuracy of the claim, citing that taxes wouldn’t reach the 70% level as suggested by the original post.
As the discussion unfolded, it became evident that definitions of wealth and poverty are relative and depend largely on local cost of living and lifestyle expectations.
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