With a rise in the income tax exemption limit—from Rs 7 lakh to Rs 12 lakh per annum—the government aims to free up significant disposable income for the salaried class, thereby stimulating consumption and invigorating the economy. However, this policy shift, while well-intentioned, brings with it a set of concerns about the kind of consumption it will foster. Much of this newly liberated money could flow into conspicuous consumption, a reflection of an unspoken societal expectation to display success.

The Indian middle class, once defined by prudence and a focus on savings, has undergone a rapid transformation in recent years. A shift away from traditional material goods towards luxury items, experiences, and status symbols is not just visible but becoming ubiquitous. The notion of keeping up with the Joneses has evolved into a full-blown societal norm, with FOMO (fear of missing out) driving ever-higher levels of spending on non-essential goods.........

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