A Bengaluru CEO’s LinkedIn post on “middle-class salaries” has sparked a discussion online. In his post, Ashish Singhal, co-founder and Group CEO of PeepalCo, said that with soaring expenses and stagnant salaries, the middle-class is quietly absorbing the economic shock, with no bailouts, no headlines and barely any conversation. “The biggest scam no one talks about? Middle-class salaries,” he wrote, explaining the crisis this group faces. 

“Over the past 10 years: – The group earning under Rs 5L saw a 4% CAGR – Rs 5L- Rs 1Cr income group has seen just 0.4% CAGR – Food prices? Up nearly 80% – Purchasing power? Cut almost in half – But spending? Up, funded by credit,” Mr Singhal wrote. “This isn’t a collapse. It’s a well-dressed decline. You’re still flying once a year. Still buying a phone. Still paying EMIs,” he continued. 

Further, the CEO claimed that while the middle class is struggling, artificial intelligence (AI) is quietly threatening white-collar jobs, and the ultra-rich have gained seven times in a decade. 

“The poor are being supported. The rich are scaling. The middle class is just expected to absorb the shock, in silence. No complaints. No bailouts. Just inflation, EMIs, and quiet pressure,” he wrote. 

“It’s time we start talking about this group. Not as a vote bank or a spending class, but as a segment that’s powering the economy, yet getting squeezed out of it,” Mr Singhal expressed. 

Concluding his post, the CEO asked his followers if they think “it’s just an income issue, or even a money management issue?” 

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Since being shared, Mr Singhal’s post has accumulated more than several comments and reports. It has sparked a debate on the silent crisis facing India’s middle class. 

Reacting to the post, one user wrote, “I am picking this signal consistently from a wide variety of sources. The middle class is quietly getting squeezed from both sides. But it’s also its own fault for choosing to stay quiet and naively hoping that just staying the course of 9 to 9 jobs, home loans and car loans will improve the situation. The middle class’s guilt is that it’s taken too much on its own self and asks too little from the government. As they say, excess of nothing is good – being excessively conforming and hard working – has led to being stuck between the devil and the deep sea.” 

“Well said! Middle class themself don’t allow to think but gets driven by Agenda’s set by others and keep draging thereby lost thier Willpower /Courage to Question,” commented another. 

“This is quite interesting to read and yes thanks for putting this up. Because there are multiple bread earners in middle class segment who think that no matter how much they work hard the savings pot still remains empty. Maybe that’s the reason middle class category stays in the same stage while the rich grow their wealth. I suppose there should be a system to help middle-class in upward mobility or atleast efforts should be made to balance the inflation,” said a third user. 

However, one user said, “Crying on any platform won’t make any difference. India was moving on like this and will continue like this. Nothing’s gonna change here. Even after so much tax, there is nothing in return. Whoever can and gets the opportunity, just leaves the country, that’s it. But again, salary alone can’t make anyone wealthy anywhere in the world.”

“Good one. But, as CEO, what was the pay rise you gave to your employees vis-a-vis yours? That should be interesting to know,” commented another.