‘Biggest scam’: Lemonn cofounder sparks debate on middle-class salary crisis

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A CEO’s post on middle-class salaries has sparked a debate. Ashish Singhal, chief executive officer at wealthtech firm Peepal and cofounder of CoinSwitch and Lemonn, called the middle-class salaries the “biggest scam no on talks about”.

In the post, Singhal cited a Marcellus report from January that the group earning under Rs 5 lakh saw a 4% compounded annual growth rate (CAGR), whereas the Rs 5 lakh to Rs 1 crore income group—which includes middle class and upper middle class—have seen just 0.4% CAGR. Meanwhile, food prices have risen nearly 80%,…



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‘Biggest scam’: Lemonn cofounder sparks debate on middle-class salary crisis


A CEO’s post on middle-class salaries has sparked a debate. Ashish Singhal, chief executive officer at wealthtech firm Peepal and cofounder of CoinSwitch and Lemonn, called the middle-class salaries the “biggest scam no on talks about”.

In the post, Singhal cited a Marcellus report from January that the group earning under Rs 5 lakh saw a 4% compounded annual growth rate (CAGR), whereas the Rs 5 lakh to Rs 1 crore income group—which includes middle class and upper middle class—have seen just 0.4% CAGR. Meanwhile, food prices have risen nearly 80%,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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