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THE INDIAN MIDDLE-CLASS JUST GOT POORER |WDTDS| EPISODE 26

By Ajay Prakash on December 23, 2021 • ( 1 )

The Indian middle-class just got poorer |WDTDS| Episode 26

Governments are notorious for not providing facts and data, especially if the news is bad.

One of the major concerns for the public has been the price rise. The consumer price index is hovering around five percent (5%), and the wholesale inflation rate went over fourteen percent (14%) in November. The Rupee is falling against the US dollar, making imports expensive.

No political party is talking about price rise since they are fully aware that the worse is yet to come. They do not wish to be accused of impropriety should they come to power after the coming elections.

A clear sign of mismanagement by the government.

Yet, the stock market has been booming. The effect of the 5.3 Lakh Crores liquidity injected into the economy by RBI during 2020 has found its way to the stock market. This method of injecting liquidity is known as Quantitative Easing – something that the US tried during the 2008 downturn. Again, a sign of mismanagement by the government.

Based on a research paper published by Pew Research, Washington, I present the difference in managing the respective economies during the Corona period. People became poorer, especially the middle class. But India landed up adding 7.3 Crore more people below the poverty line. These are people who slipped down from the lower middle class. Again, a sign of mismanagement by the government.

See the episode till the end as I present a possible peek into the coming year. There are only dark clouds in the coming months, that too with no silver lining.

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