When the Union Budget was presented, me along with most of the middle class saw it live on television during office hours expecting some tax cuts and ‘freebies’ besides some standard deduction tax cut; nothing much as with the rising economy and India reaching the league of top five nations, it is difficult to imagine for how long 2-3% taxpayers can sustain the burden of 98% of the economy.
All national and state parties these days are running elections on freebies. Except the middle-class taxpayers, everyone is getting something. For a developing nation, it is important to uplift the underprivileged, but the question remains for how long?
Robin Hood taking money from the rich and distributing to the poor looked good only in stories. Now, when we are experiencing it, it looks horrible!
Leave alone the working middle class, even senior citizens form the lifeline of an economy. Their experience is the guiding light for any economy. They too did not get any benefit. No insurance, no healthcare, no social security!
Earlier, senior citizens used to get a little concession in railways but after COVIC, that too has stopped. There is no talk in political circle as to when it will restart, if at all it will.
Income is stagnant with little or no increment but not school fees. It is increasing annually by 10-12%. Not to mention cost of books, uniform, transportation etc. It is no wonder that after work from home, home schooling is gaining trend; after a few years, schools would become unaffordable.
Working, middle-class people used to go to restaurants, cinema halls etc for little entertainment in their busy lives but those too have become expensive, not because of inflation but, because of the exorbitant tax the government is charging directly/ indirectly.
In conclusion, the middle class, which forms the backbone of the economy, continues to bear the brunt of economic policies that favour short-term populism over long-term sustainability, leaving them with dwindling benefits and increasing financial burdens.
