Middle-class Indians hard hit by economic slowdown: Study

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As the Indian economy continues to be on the downturn and the rupee slumps to a new low, the country’s middle class and the poor appear to be the ones hit the hardest. A study by India’s leading industry body Assocham has revealed that the country’s middle class has been forced to cut back on eating out, buying branded products, new cars, foreign trips and studying abroad, as their monthly expenditure has risen by 20 percent. In the recent weeks the Indian rupee has slowed to a record low of 59.93 against the US dollar.

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