<\/p>\n\n\n\n
Goa Khabar<\/strong>: The Indian middle class is the most debt-ridden people in the world, according to Saurabh Mukherjea, Mumbai based equity strategist, economist and fund manager. Mukherjea, author of the latest book, \u201cBreakpoint-the crisis of the middle class and the future of work\u201d was speaking at the International Centre Goa (ICG) on Friday as part of their \u201cKitaab-books in discussion\u201d series.<\/p>\n\n\n\n \u201cIn a country where 8 million graduates are coming out of college each year, there is very little for these young men and women to do. In \u201cBreakpoint\u2026\u201d, we describe how the desire for a nice lifestyle is being fuelled by social media and how in the absence of gainful employment this is leading to an upsurge of mental health issues and unbelievable levels of borrowing. The Indian middle class is now among the most indebted people in the world,\u201d Mukherjea said.<\/p>\n\n\n\n Presenting some startling facts from his research, Mukherjea said that average white-collar job salaries in India had stagnated in the last ten years. Average annual salaries of Rs 10.2 lakhs in 2016 had advanced to only Rs 10.7 lakhs in 2026.<\/p>\n\n\n\n According to Mukherjea, since 2020, a large proportion of working professionals in the age-group of 40-55 were losing their jobs, especially in the hitherto lucrative, information technology sector. \u201cThe middle-aged working professionals are being quickly replaced by younger professionals and AI technology,\u201d Mukherjea said.<\/p>\n\n\n\n Explaining the scary phenomenon of middle-class debt, Mukherjea said that 70 per cent of all middle-class Indians had taken loans and 40 percent of their income was being diverted in repaying these loans. \u201cScarily, 50 per cent of these loans are education loans being taken to send their children for higher studies. In most cases, these people end up wiping out all their savings,\u201d Mukherjea said.<\/p>\n\n\n\n On a positive note, Mukherjea said that the manufacturing sector was getting revitalised across the country and he was confident that the private sector companies would themselves start, in-house skill-based training units to generate work force suitable for their work.<\/p>\n","protected":false},"excerpt":{"rendered":" Goa Khabar: The Indian middle class is the most debt-ridden people in the world, according to Saurabh Mukherjea, Mumbai based equity strategist, economist and fund manager. Mukherjea, author of the latest book, \u201cBreakpoint-the crisis of the middle class and the future of work\u201d was speaking at the International Centre Goa (ICG) on Friday as part […]<\/p>\n","protected":false},"author":25169,"featured_media":112667,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[155,6],"tags":[3794,38],"class_list":["post-112666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-155","category-6","tag-featured","tag-goa"],"read":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/posts\/112666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/users\/25169"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=112666"}],"version-history":[{"count":1,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/posts\/112666\/revisions"}],"predecessor-version":[{"id":112668,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/posts\/112666\/revisions\/112668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=\/wp\/v2\/media\/112667"}],"wp:attachment":[{"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=112666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=112666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.goakhabar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=112666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}