Business
Log Kya Kahenge: Public Comparison Accentuates Money Anxiety, Brings Rs 70 LPA Salary Into Middle Class Bracket, Shares Edelweiss CEO Radhika Gupta
New Delhi: The middle-class definition in India has been a topic of discussion for quite some time now. Due to increased earning possibilities and social media influence on living standards, the definition has become increasingly unclear. A recent podcast by Rahul Jain, where he explored the issue of whether an annual salary of Rs 70 is ‘middle class’ in India, raised the discussion once again.
Responding to the question, CEO of Edelweiss Mutual Fund Radhika Gupta said that in theory, an income of Rs 70 lakh counters the middle-class notion.
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Radhika said that all of us are above middle class and explained that having a salary of 70 lakh does not define a middle-class individual. “What we now like to call middle class is almost cool,” she told Jain. She said, “The reality is – none of us are middle class. The technical definition of middle class cannot be Rs 70 lakh of income. Rs 70 lakh is upper class.”
The Edelweiss CEO claims that numerous professionals in metropolitan cities in India are of the opinion that earning in seven figures is an underpayment. The continuous pressure from social media, high rent and increased standard of living leads more to the conclusion that salary is sufficient. High earners continue to identify as “middle class” due to their upbringing which Radhika views as an identity crisis.
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The Edelweiss CEO said that while all of us have a middle-class background but today most of us are not middle class anymore. “All of us come from middle-class roots. We have middle-class psychosis, middle-class thinking, grandparents who were middle or lower middle class,” she said. “We hold that word very dear to us. But let’s be real, most of us are not middle class anymore,” Radhika said.
According to Radhika, the true middle-class earns between Rs 5–8 lakh annually and not Rs 70 lakh. She believes that it is “meaningless” to assign a single label to all 140 crore people in the country. She says around 10 crore people earn around Rs 10 lakh-Rs 12 lakh per year while more than 100 crore live under Rs 1.7 lakh.
Social media is making it harder to define what the middle class is. She said, “I spoke to a Gen Z kid. I asked why they’re resistant to 60–70 hour work weeks. He said, ‘We have to go to the gym, maintain fitness, take vacations—because we’re competing on social media.’”
According to Radhika, social media comparisons between users exacerbate money anxiety. “The conflict between saving and spending always existed. But today, it’s exaggerated,” she says.
The Edelweiss CEO says that Rs 70 lakh is a high income on paper. However, this amount of money “never feels like enough” in the minds of the general public.
Glasses maker Inspecs has warned US tariffs have “heavily impacted” its Chinese factory and prompted many retailers to delay orders, as it reported a dip in sales.
The global eyewear business based in Bath, Somerset, said it had “experienced first-hand” the effects of trade disruption and weaker consumer confidence.
Donald Trump’s tariff hikes have been affecting manufacturing exports from China to the US, Inspecs told investors.
A considerable proportion of its retail customers were delaying orders while they wait for more certainty on trade policy.
Much steeper levies on Chinese exports to the US are currently on pause after the two countries agreed to extend a tariff truce until November.
It means US tariffs on Chinese goods are currently capped at 30%, while Chinese levies on US exports are held at 10%.
Inspecs, which sells its products in about 75,000 retailers, also said the first half of 2025 had been particularly challenging for its low-vision business in the US.
It blamed tariffs for increasing product costs, and in turn leading to some customers delaying purchasing decisions.
The company also pointed to government spending cuts affecting the low-vision division “owing to the changing political landscape”, which was contributing to slower demand and sales.
Sales totalled £97.6 million in the first six months of the year, down slightly on the £100.6 million generated last year.
It reported a pre-tax profit of £2.4 million for the half-year, down from £2.6 million the year before.
Nevertheless, the firm highlighted the launch of the Tom Tailor glasses brand in July, with initial sales ahead of target, as well as singer Gwen Stefani’s eyewear collection LAMB launching a new website.
Inspecs said it was cutting its operating costs to help mitigate the effect of declining sales.
Chief executive Richard Peck said: “As a global eyewear business, we have experienced first-hand the widely-reported macro-challenges, including ongoing tariff disruption and subdued consumer confidence.
“As a result, group sales in the first half are slightly behind last year.”
But the boss added that he was “encouraged by the achievements that have been within our control” including initiatives to make the business more efficient.
He said there was a “reasonable expectation” of the group meeting its full-year financial outlook.
Business
Gold & silver price prediction today: MCX Gold to remain bullish? Here’s the outlook – The Times of India
Gold and silver price prediction today: Gold prices and silver prices continue to exhibit a bullish trend, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group. He shares his views on gold and silver:
MCX GOLD Price Outlook
MCX Gold continues to remain on a bullish trajectory, despite witnessing some correction ahead of the recent Federal Reserve meeting. The pullback was more of a profit-booking phase rather than a trend reversal, as the broader sentiment for gold still favors the upside. Currently, gold prices have approached a very crucial support zone around ₹1,09,000 levels, which is likely to act as a strong floor for the metal. As long as prices sustain above this level, the overall structure remains positive, keeping buyers in control.The resilience of gold at this support indicates that market participants are still positioning themselves for higher levels. Key drivers such as global uncertainty, demand for safe-haven assets, and expectations of interest rate policies continue to lend strength to the metal. Technically, holding above the support opens the possibility of a move towards ₹1,11,000 levels in the near term. A decisive breakout above this level may further extend the bullish momentum.On the downside, a breach below ₹1,09,000 could invite fresh selling pressure, but until that occurs, the outlook stays constructive. Traders and investors are advised to remain cautiously optimistic, with a focus on buying at dips near the support zone.
MCX Gold Trading Strategy
- CMP 109800
- Target 111000
- Stoploss 109000
MCX Silver Price Outlook
MCX Silver witnessed a healthy correction from ₹1,30,000 to ₹1,26,000 levels ahead of the recent Federal Reserve meeting, as traders preferred to book profits and stay cautious before the policy outcome. However, this decline appears more like a short-term retracement rather than a reversal in trend. The broader structure of silver continues to remain positive, supported by robust industrial demand, safe-haven buying, and global cues that favor precious metals in the medium term.Currently, silver is finding strong support near ₹1,25,000 levels, which is expected to act as a cushion against further downside. As long as prices sustain above this zone, the bias remains firmly upward. On the higher side, silver has the potential to rebound towards ₹1,29,000 levels, a zone that may act as immediate resistance. A sustained move above ₹1,29,000 could even pave the way for retesting the ₹1,30,000 levels once again.From a technical perspective, dips towards support are being viewed as fresh buying opportunities by traders, indicating continued bullish sentiment. On the flip side, a break below ₹1,25,000 may invite additional weakness. Until then, the outlook remains constructive, and investors may consider a buy-on-dips strategy.
MCX Silver Trading Strategy
- CMP: 126840
- Target:129000
- Stoploss: 125000
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
Kevin PeacheyCost of living correspondent
Getty ImagesInterest rates are widely expected to be held at 4% when policymakers at the Bank of England meet on Thursday.
The Bank rate, which heavily influences borrowing costs and savings rates, was cut from 4.25% to 4% by the Bank’s Monetary Policy Committee (MPC) at its last meeting in August.
It took the rate down to its lowest level for more than two years, but many analysts believe there will be no further cuts during the rest of this year.
The decision will be revealed at 12:00 BST and comes after official data on Wednesday showed prices were rising at nearly twice the target level, driven by the higher cost of food.
The rate of inflation remained at 3.8% in August, well above the 2% target. The Bank rate is policymakers’ main tool for controlling inflation.
In theory, making borrowing more expensive means people have less money to spend, which slows prices rises. However, increasing borrowing costs can also harm the economy.
Closely-watched vote
The decision to cut the Bank rate in August was taken after an unprecedented second vote by the nine members of the MPC.
Andrew Bailey, governor of the Bank, said the decision to cut interest rates was “finely balanced”.
Analysts expect Thursday’s vote to be more clear cut, with no change expected.
The relatively high rate of inflation means policymakers are unlikely to risk pushing that higher by cutting the Bank rate.
However, they do expect the inflation rate to start to drop soon, which leaves the possibility open of further interest rate cuts.
The Bank rate has a big impact on the interest homeowners face when taking out a new fixed-rate mortgage.
Lenders use the Bank rate to set their own rates. As a result, the expectation of interest rate rises can push up mortgage rates while the expectation of interest rate cuts can pull mortgage rates down.
Mortgage rates have dropped very slightly since the MPC’s last meeting in August, but further moves are uncertain, according to Rachel Springall, from the financial information service Moneyfacts.
“Many will be waiting with bated breath for the Budget. This waiting game, alongside forecasts for inflation to remain above target, makes it less likely for the Bank of England to make further rate cuts this year,” she said.
She said that savers had seen a downward trend in returns during the time when the Bank has been lowering the Bank rate.
“The average easy access [savings] rate has fallen further below 3%, so savers must act now and switch their variable rate account if it no longer pays a decent return on their hard-earned cash,” she said.
Global picture
The government would be keen to see interest rates fall further, to boost growth in the UK economy.
The Resolution Foundation think-tank, which which focuses on those on low to middle incomes, said living standards needed to improve after a “lost” 20 years of growth.
But ministers will be aware of the inflationary risk that remains in the UK, especially as prices are rising slower in countries such as the US, Germany, and France.
Thursday’s MPC decision will come after the US central bank chose to cut interest rates on Wednesday to a range of 4% to 4.25% for the first time since December.
Last Thursday, the European Central Bank chose to hold its interest its at 2%.
US tariffs disrupting Chinese exports as retailers delay orders, says Inspecs
Indian carpet makers bear tariff brunt; BTA talks reignite hopes
Gold & silver price prediction today: MCX Gold to remain bullish? Here’s the outlook – The Times of India
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