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

May 23, 2025

, By The Economic Times

Share via:

A CEO’s post on middle-class salaries has sparked a debate. ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ashish-singhal” target=”_blank”>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%,…

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.

Previous News

FIR Filed After Instagram Account Secretly Films Women on Bengaluru Metro, Sparks Public Outrage

Next News

Anthropic rolls out Claude 4 family of AI agents

The Economic Times

Popular

More Like this

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

May 23, 2025

, Published By The Economic Times

A CEO’s post on middle-class salaries has sparked a debate. ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ashish-singhal” target=”_blank”>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%,…

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.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

Previous News

FIR Filed After Instagram Account Secretly Films Women on Bengaluru Metro, Sparks Public Outrage

Next News

Anthropic rolls out Claude 4 family of AI agents

The Economic Times

More like this

Popular

Block title