Viral Debate Sparks Over Income Levels: Is ₹60 Lakh the New Middle Class?

X Users Discuss Income Inequality and Generational Wealth After Budget 2025’s Tax Reforms

February 4, 2025: Finance Minister Nirmala Sitharaman’s Budget 2025 announcement that taxpayers earning up to ₹12 lakh annually would be exempt from taxes under the new regime has ignited a storm of online conversations. The internet quickly filled with memes and debates, particularly highlighting disparities in income perceptions across different professions and social strata.

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The controversy began when an X user pointed out that many professionals outside the IT sector view ₹12 lakh as a dream salary, even after years of experience. “IT professionals earning ₹24L+ should stop calling themselves ‘lower middle class.’ Forget ₹12L—check India’s median salary and see where you stand,” read the post.

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Adding fuel to the fire, a fintech enthusiast claimed that earning less than ₹60 lakh per annum qualifies as “poor.” The user argued that heavy taxation and high living costs in metro cities make ₹60 lakh the benchmark for a middle-class lifestyle. “You aren’t rich if you don’t have generational wealth,” the user stated, sparking polarized reactions.

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Reactions Pour In

The comment quickly went viral, with some users challenging the notion and others agreeing. One user explained that wealth isn’t solely about income but also assets: “A ₹24L salary with a ₹5 crore portfolio and residence is wealthier than someone earning ₹60L with ₹50L in liabilities.”

Others criticized the exaggerated classification. “If ₹60L-1Cr is middle class, then what’s ₹12L? Below poverty line? This isn’t economics; it’s trolling,” one user quipped.

However, some defended the argument, noting the high cost of living in metros like Mumbai and Bengaluru. “To live decently in these cities, ₹50L is the minimum,” wrote one commenter. Another added, “Making ₹60L makes you lower middle class. True middle class can afford ₹5 crore property and luxury cars at will.”

Generational Wealth in Focus

A significant aspect of the discussion revolved around generational wealth. “You are not rich if you don’t have generational wealth,” resonated with many, pointing out that true financial security comes not just from high earnings but also from inherited assets.

Context: Tax Reforms and Economic Disparities

The broader discussion highlights the growing income inequality and varying perceptions of wealth in India. Sitharaman’s announcement of zero tax on incomes up to ₹12 lakh was aimed at providing relief to the middle class but inadvertently underscored how subjective income brackets are in India’s diverse economy.

Tags:

• Income Inequality
• Budget 2025
• Generational Wealth
• Tax Reforms
• Middle Class Debate
• Cost of Living in India
• Metro Living Costs