Whenever any economy faces crises, it’s the middle class that gets affected the most as their needs are like the upper classes, while means are not there to support such dreams.
Whenever any economy faces crises, it’s the middle class that gets affected the most as their needs are like the upper classes, while means are not there to support such dreams.
With the Indian economy at an all time low, it’s us who are in deep trouble, and how! Rupee has hit an unimaginable low, while rates of gold and other precious gems have hit through the roof. Even basic foods like onions, milk and LPG cylinder are making a deep hole..erm…valley in our pockets. At Youngisthan, we take a look at what all the middle class is compromising on in order to sail through this difficult time.
Jobs:
In a bid to fight the growing recession in the market, the youth is taking up any job coming its way, which will only affect the economy in the long run. Labour doesn’t come cheap, yet in our country, it’s freely available to be exploited by all and sundry. And since the job market is at his worst due to the economic slowdown, it’s the middle that’s suffering the most as they get into half-paying, benefits-less jobs.
Pub-hopping:
With additional taxes on air condioned pubs and restaurants, eating out and pub-hopping is possible only in dreams now. Food joints have also shot up their prices as vegetable rates have gone up like never before. Your usual Friday night fun has to be put on hold till the economy recovers.
Multiplex rates:
Whether a movie makes Rs 100-cr or not, it costs us a bomb to watch it, what with multiplex tickets costing in the range of Rs 300 and more. Throw in a tub of popcorn and a glass of coke and you can say goodbye to a week’s worth of ration. Movies used to be the only affordable entertainment, now that has also taken a toll. And it’s the middle class that’s at the receiving end as we can’t do away without our weekly cinema fix.
Home/auto:
Purchasing a home in Mumbai is no less than making a roundtrip to Mars. But with home loans becoming costlier, owning a flat in the city of dreams will remain a dream. Even automobiles have joined the bandwagon as their instalment rates have gone up as well. We suggest that you stay put in your modest house and not dream of anything lavish for a while. And as far as cars are concerned, rent them out or stick to Nano!
Gold:
If you’re a would-be bride, invest in a lot of gold-plated jewellery for your big day as ornate accessories in the yellow metal will make you go pauper before your prince sways you off your feet! The luscious metal, which has made a generation of women fall in love with it is not going to be cheap anytime soon. It’s the middle class like you and I who rush to buy gold coins during Akshayatrithya or Diwali. But not this year.
Education:
Forget going abroad for higher studies, getting a decent degree in India has become tougher. With the currency slumping, maximum pressure is on the education sector as most students prefer to go to USA or UK for better education prospects.
