The cat is finally out of the bag
- 4 days ago
- 3 min read
Don’t be deceived by these displays of austerity. You live in a democracy controlled by the rich, who believe they can lull you into thinking that your suffering is proof of your nationalism.
Editorial/independentink.in
Until the prime minister articulated it in Hyderabad on May 10, 2026, merely speaking or writing about an impending economic crisis was enough to get you branded an anti-national or a demented Leftist economist. You also ran the risk of being dismissed as an agent of George Soros, or a dimwit who failed to grasp that the rupee was not falling, but the dollar was rising!
Now, however, with the PM urging the nation to conserve foreign exchange, reduce energy consumption (read petrol, diesel, cooking gas), cut down on the use of edible oils, refrain from buying gold, limit foreign travel and practice overall austerity, the cat is finally out of the bag.
The economy is not as robust as it has been made out to be. Progress was in the figures bandied about and not in facts on the ground. A privileged minority among the 140 crore has been amassing unbridled wealth, while the trickle-down effect was not even a trickle for the rest.
Meanwhile, the PM chose to travel on a five-nation tour, with the social media pointing out the crores spent on his 75 plus visits to multiple countries in the past.
So, who was the nation's “Pradhan Sevak” (principal servant) preaching austerity to?
Certainly not to the 81 crore surviving on free government rations. Or the millions of slum dwellers and those below the poverty line who have already switched to their chulas, burning twigs and firewood in the blistering summer because they cannot access or afford cooking gas sold in black.
Or, was the PM recommending fewer holidays in the cooler climes of South of France for lower-middle-class families who are struggling to make ends meet?
Perhaps his message, sent as a personal note, would have been better directed at the creamy 10 per cent of the population who capture nearly 60 per cent of the national income, and the 1,688 families possessing over Rs 1000 crore in wealth. They are the kind who splurge on lavish destination weddings, own a fleet of cars, choppers, and planes, and catch up with friends at St Moritz, the Alpine resort in Switzerland. For them, luxury is an essential commodity
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One of the predictable consequences of the tensions in the Middle East, which will hit the poor in India the hardest, is the latest fuel price hike. With more increases likely to follow, government-sponsored economists and the mainstream media are already spinning the crisis to absolve the government of all responsibility, including ineffective currency management and poor policy decisions in the last few years.
In its stead, a ‘Blame it on the War’ campaign has already been launched and will soon implore all patriotic citizens, including the daily-wager who gulps chai and Tiger biscuits before rushing off for work, to practice extreme austerity to “save the nation”.
As we prepare for the difficult times ahead, let us not forget that surging inflation and rising unemployment are nothing new. Both were clearly evident on the ground long before the US and Israel launched their attack on Iran. The war has only made things worse.
The State of Working India 2026, a report by Azim Premji University released in March this year, found that 40 per cent of graduates in the 15–29 age group are unable to find jobs, and only a small fraction (less than 7 per cent) manage to secure stable employment, often on low salaries. Most are forced to settle for gig work with fast-commerce platforms or join ride-hailing services such as Uber. Strikingly, estimates suggest that nine out of ten Indians work in the informal/unorganised sector, with no job security, basic rights, or a social safety net.
In the days to come, we will see more declarations of austerity from the privileged classes. Ministers, judges, and senior officials will ostentatiously ride bicycles to work, trailed by an entourage of security personnel and loyalist media camera crews in SUVs, solemnly recording this great act of sacrifice.
Socialites will announce on social media how they gifted gold-plated ornaments for their best friend’s daughter’s wedding. Film stars will grandly declare that they will no longer shoot in Mauritius and will instead insist on locations on Madh Island in Mumbai.
Don’t be deceived by these displays of austerity. You live in a democracy controlled by the rich, who believe they can lull you into thinking that your suffering is proof of your nationalism.
So don’t forget the rigged elections, the NEET question paper leak for the umpteenth time, the suicides of young aspirants, the soaring inflation, and the rising unemployment.
