India is a growing economy, and the people who grow from the bottom of the staircase just want to reach in the middle somewhere. They believe it’s better to keep growing in the middle. This is how the world’s largest economy belongs to the middle class.
But let us shuffle a few months of 2020. The coronavirus pandemic suddenly hit the world, and the highest impact is on the middle class. So how did it happen? Let me tell you. First of all, let’s understand who are the people who actually belong to this class
Impact of coronavirus
- People who have money equal to the poor, but they maintain a lifestyle of the rich.
- Their entire assets are on loan.
- They pay taxes.
- The one who lost their jobs before they could understand what exactly happened
- They are single-handed earners, and they have a family to look after. Their wives are housewives, their children go to public schools, their parents are mostly unwell and are followed by huge medical bills.
- They hire domestic help but fail to provide them any help in this time of the coronavirus pandemic. In fact, they are the ones who aren’t getting any wages as of now.
- Their electricity bills, grocery bills, school fees, all are pending, but see the dilemma, they aren’t offered any help by the government yet.
The government has declared all sorts of food packages, financial help and loan pardon only for the people below the poverty line. But what about the middle-class people? Don’t they deserve any help at this crucial time? In an early data release, the government announced a school fee pardon for almost every student, but no, that didn’t happen.
Now, you won’t be charged quarterly, instead of that you have the facility to pay on a monthly basis. Will this really help? And those loan installments? Do you have any idea that EMI moratorium will cause you many extra EMI’s when calculated? People have lost their jobs, or they are not paid the full amount of their salaries. They still have their bills, EMI’s etc standing in front of them like a challenge.
During the coronavirus pandemic lockdown period, so many small businessmen disappeared from the market. The rest are bearing huge losses. The gentry who belongs to BPL knows how to survive in crises, middle-class people will have to learn. And if the middle-class return to the bottom of the staircase, won’t India lose its identity?
- According to Blog News, the impact on this class is very high. It has broken the spine of this gentry.
- No relief has been yet announced for this class.
- Despite being unable to bear the expenses of their families, they are still surviving.
- Most of the families are surviving on loans. How would they pay it back?
- General news says that this situation will definitely hit the Indian economy very hard because most of the taxes are collected from the middle-class people. And this is sure that as of now, this class is not in the form to spend even a buck from its pocket.
The lower class has no jobs during this coronavirus lockdown. The upper classes have no external worries. It’s the middle class that has begun losing jobs and waging worries. If they get no salary, the government won’t get their taxes, even when the factories begin producing, the middle class doesn’t have money to use as per their needs. That’s how the dominoes come to a fall. The middle class can’t go menial and they got no manual to find a solution to this problem.
They are fooled by the government budget after budget they are produced with every year… This may be the time for the government to ensure this middle does not lose its identity. Because the rapidly growing middle-class phrase has been India’s USP. If a country loses its USP, they are not standing in the global market anywhere
