A post by finance influencer and entrepreneur Akshat Shrivastava has stirred a debate on social media about the changing realities faced by India's middle class. In a candid reflection shared on X, the founder of financial education platform Wisdom Hatch compared his modest but secure upbringing to the increasingly strained financial situation confronting today's salaried households.
Shrivastava drew on his personal experiences to highlight how the financial stability of the middle-class has diminished over time.
"When I was growing up: my parents, in their mid-30s, were able to buy a patch of land, built their own house. All on modest income," he wrote, setting the stage for a comparison between two very different eras. He added, "We had a happy home. My mom worked as a cashier. And, my dad worked in insurance (middle management)."
Describing a life that many middle-class Indians of the 80s and 90s would find familiar, Shrivastava recalled, “Like most middle-class families: we took 1 domestic vacation every 2-3 years. And, almost always stayed with relatives/family friends whenever we travelled to a new city. My brother and I got a decent education. And, we never felt resource-starved.”
He acknowledged the limitations, too, stating, "We never ate at a 5-star restaurant. Or took an international trip. Or even imagined what studying abroad would be like."
But the crux, he explained, was not about luxury. "Our dinner conversations were never about money, finance, debt, or spending. Our conversations were about: food, politics, school life and general chit-chat about life."
Contrasting that past with the present scenario, Shrivastava said, "If I reflect back: such a world doesn't exist for most middle class anymore. People are deeply stressed about finances."
Backing his observation with data, he wrote, "In the last 10 years, the salary growth has been 0.4% CAGR. Not 4% (0.4%). This is for people earning between Rs 5L to 1Cr. The middle class, as we know it, has eroded."
According to him, the economic pressures have changed people's relationship with risk. "There is a reason why people are aggressively turning towards: FnO, Dream 11 and Astrology. Not because they wish to make 'quick money', but because their finances have been stressed (AND they gotta take chances!)."
Shrivastava concluded with a stark reminder of today's harsh financial reality. "If, after working 30 years in an okay job, you can't own an okay home, you know that things are NOT okay."
Here's the post:
When I was growing up: my parents in their mid 30s were able to buy a patch of land, built their own house. All on modest income.
June 17, 2025
We had a happy home.
My mom worked as a cashier.
And, my dad worked in insurance (middle management)
Like most middle class families: we took 1…The post has already garnered around 165k views on X. It resonated with many users.
Reacting in affirmation, a user wrote, "The real issue isn't lifestyle inflation, it's income deflation. Real salary growth: 0.4% CAGR over a decade, Home prices: 2–3× increase, Education & healthcare: Outpacing inflation, Middle-class net worth: Flatlined or shrinking."
The real issue isn't lifestyle inflation, it's income deflation.
June 17, 2025
- Real salary growth: 0.4% CAGR over a decade
- Home prices: 2–3× increase
- Education & healthcare: Outpacing inflation
- Middle-class net worth: Flatlined or shrinkingAnother user recalled how her generation built stable lives through discipline and modest spending, contrasting it with the present generation who, she said, despite higher incomes, had job insecurity and overspent to maintain a lifestyle image.
Ours was the same type of household you described..I & my husband, both from large families, worked hard,raised our Sons within our means(my husband had to support his siblings too), managed transfers, & built a house in our late 30s.Yes we had to take loans but never wasted on…
June 17, 2025"This is so true. Life was simpler and more secure back then. Today, even after working hard for years, many people can't afford a home or feel financially stable," read another comment.
This is so true. Life was simpler and more secure back then. Today, even after working hard for years, many people can't afford a home or feel financially stable. The middle class is under real pressure, and that's why so many are looking for risky ways to make money. Things…
June 17, 2025One user said the post perfectly captured the nostalgic essence of that time. "You nailed it with the nostalgia. It was exactly that, simple, slow and yet so rich in memories. I didn't even want to read the 'how it's going' part.
You nailed it with the nostalgia. It was exactly that, simple, slow and yet so rich in memories. I didn't even want to read the ‘how it's going' part.
June 17, 2025As incomes stagnate and costs soar, Shrivastava's message has struck a chord, not just as a nostalgic tale, but even a wake-up call for a struggling Indian middle class.
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