New Definition of Rs 12 lacs ?

The Middle Class vs. Upper Middle Class – The New Definition

With the latest budget, the middle class is now officially defined as those earning ₹12 lakh or less annually, enjoying zero income tax.

But what about the upper middle class? Middle Class: ₹12 lakh or less (tax-free) Upper Middle Class: ₹12-25 lakh (taxed, but with benefits)

This shift blurs the lines between financial classes.

So will this impact the marriage industry? Will families now look for prospects earning above ₹12 lakh to classify them as "upper middle class"?