How is great Indian middle class copping with Inflation?
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Residence: 2-bedroom apartment in Thane in suburban Mumbai
Profession: Renu is a manager in a private sector bank, and Ravi is a chartered accountant with an MNC
Feeling the squeeze: EMI on their home loan will now go up by at least Rs 1,000, to Rs 35,000; had planned a holiday to Kashmir, but with airfares going up from Rs 17,000 to Rs 24,000 on that route (from Mumbai), they’re now eyeing a vacation spot closer to home
Action: They’ve stopped using the car, opting for office transportation
Effect: Monthly saving of Rs 7,000
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Residence: 2 BHK apartment in Faridabad
Profession: Srivastava works for a telecom company
Feeling the squeeze: Monthly petrol bill is up from Rs 2,800 to Rs 3,000; EMI on a housing loan will go up by Rs 2,000
Action: Dinner outings have been reduced from twice a week to once a week; postponing big-ticket purchases
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Residence: 1 BHK apartment in Versova in Mumbai
Profession: Senior manager with a private sector bank
Feeling the squeeze: Petrol prices of almost Rs 56 per litre are eating into his spending power
Action: Shares a cool cab to work, along with a few other colleagues who live in the vicinity