The India Fix: Why is India struggling to create a substantial middle class?


Key Topics in this News Article:

News Snapshot:

Welcome to The India Fix by Shoaib Daniyal, a newsletter on Indian politics. To get it in your inbox every Monday, sign up here (click on “follow”). Have feedback, interesting links or I’m-so-middle-class jokes? Send them to One of the most significant decisions in the 2021 Union budget was to lift the limit on foreign direct investment in Indian insurance companies from 49% to 74%. This, for the first time, allowed foreign ownership of Indian insurance. “Industry cheers as Budget 2021 increases FDI limit in insurance to 74%,” read a headline in the Business Standard. More than a year...