A fintech professional’s post has ignited a firestorm on social media after claiming that anyone earning less than ₹60 lakh annually should be considered “poor.” The statement, posted by @fintech_shark on X (formerly Twitter), quickly went viral, sparking heated debates on income inequality in India.
“Anything less than 60LPA is poor. You pay 70% income as taxes in the form of GST, income tax & VAT. Less than 2LPM net is middle class,” the post read. He further added, “People making 60L–1cr are middle class. Those making above 1cr+ are upper middle class. You aren’t rich if you don’t have generational wealth.”
This hot take came as a reaction to a post by another X user, @Metikurke, who chimed in, criticizing high earners downplaying their privilege: “Only IT folks are crying about today’s tax rebate up to 12L. For many in non-IT fields, 12L is a dream salary even after 7–10 years of experience.”
“These IT folks earning 24L+ should stop calling themselves “lower middle class.” Forget 12L—check the median salary of India and see where you stand. Demanding better roads, healthcare, water, and education is fair, whether you earn 1L, 12L, 24L, or 1Cr. But acting like you’re poor with a 24L salary? Please stop the nonsense,” the person further wrote.
The fintech post drew sharp backlash from users, with one commenting, “If 60L–1Cr is ‘middle class,’ then what’s 12L? Below poverty line? This isn’t economics, it’s just troll farming.”
Another user questioned the logic behind the tax claim: “‘You pay 70% income as taxes…’ If you’re in the 33% tax bracket and spend the rest only on products with 28% GST, your tax will still not touch 70%. Maybe the issue is poor primary school math.”
Some highlighted the disconnect from ground realities: “In India, any rural family earning over ₹40K/month isn’t poor. In urban areas, stretch that to ₹8L annually. A family with 60LPA is easily upper middle class.”
All these raections came as a critique of the new income tax slabs announced in the Union Budget. Finance Minister Nirmala Sitharaman’s declaration that salaries up to Rs 12 lakh would be tax-free under the new regime had already stirred discussions.