After Finance Minister Nirmala Sitharaman announced that people earning up to ₹12 lakh per year won’t have to pay tax under the new system, the news quickly spread online. While many celebrated, others shared funny memes, joking that earning just above ₹12 lakh might not feel as rewarding anymore. At the same time, a viral post on X highlighting income inequality in India has sparked a serious discussion.
The debate started when an X ( formally twitter) user shared their thoughts on the new tax rules. They pointed out that while many IT professionals were unhappy about the tax rebate of up to ₹12 lakh, people in other fields often take years to reach that salary. The user also criticized those earning ₹24 lakh or more for calling themselves "lower middle class" and urged them to compare their income with the average salary in India. The post quickly went viral, leading to a big debate online.
In response, a fintech enthusiast sparked further debate by claiming that anyone earning less than ₹60 lakh per year is considered "poor." The user argued that around 70% of income goes toward taxes like GST, income tax, and VAT.
According to them, earning ₹2 lakh per month puts someone in the middle class, while those making ₹60 lakh to ₹1 crore fall into the same category. They added that only people with generational wealth can truly be considered rich. This statement stirred mixed reactions online, fueling the ongoing discussion on income and class divisions in India.
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He further said that even with a ₹60 lakh annual salary, it would take at least 5-6 years to afford a flat in a metro city while supporting a spouse and two kids. Their comment quickly went viral, sparking a debate online.
Many users joined the discussion, with one pointing out that wealth isn’t just about salary but overall financial assets
They argued that a person earning ₹24 lahks per year with a ₹5 crore investment portfolio and a home is wealthier than someone making ₹60 lahks but burdened with ₹50 lahks in liabilities and only owning a personal residence. The debate highlighted the differences between income and actual financial stability.
One user said, using income tax slabs to categorize people: below ₹4 lakh is low-income, ₹4-8 lakh is lower middle class, ₹8-12 lakh is middle class, ₹12-15 lakh is upper middle class, and ₹15-20 lakh is upper class. They also said that a family of four with one person earning ₹12 lakh should be considered as ₹3 lakh per person.
Another user criticized calling ₹60 lakh to ₹1 crore “middle class” and questioned if ₹12 lakh was below the poverty line. Some agreed with the fintech enthusiast's point that you’re not rich without generational wealth, and others said ₹50 lakh is needed for a decent life in cities like Mumbai and Bengaluru. One user said earning ₹60 lakh makes you “lower middle class,” while the rich have a net worth of ₹100 crore.
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