Tax relief announced for India’s middle class by the government has been overshadowed by the persistent challenge of rising inflation. Despite a hike in the tax exemption limit, middle-income families are finding it difficult to offset the increased cost of living, particularly in key areas
India’s middle class is feeling the pinch as persistent inflation forces urban households to curtail spending on daily essentials and discretionary items. This trend, impacting everything from fast food to consumer goods, is raising concerns about the country’s economic growth, which has heavily relied on urban consumption post-pandemic. Middle-Class Shrinkage: