A recent post by an alumnus of IIT, says that a family of four needs at least Rs 20 lakh per year for living expenses in metropolitan cities in India. The surprising part is that this huge budget still excludes luxury costs.
The post has gained 8.3 lakhs of views and has sparked an online debate.
What Is The Belief Of The IITian?
Pritesh Kakani, an alumna of IIT Kharagpur, created an online discussion via his post which claims that a family of four living in metro cities such as Delhi, Mumbai, Bangalore etc, needs at least Rs 20 lakh annually to cover their basic expenses.
The IITian took to Twitter to share the structure of the expenses of a family of four, emphasising that the figure of Rs 20 lakh per year, does not include any luxury expenses.
He also shared a screenshot of an Excel sheet to back up this fact. His detailing of monthly and yearly expenditures caught a lot of eyes quickly, with views only moving in the upward direction since April 14, Sunday, when it was posted.
Family of 4 Expense in Metro city in India is 20 lakh per year. No luxury expense added. Details are as follows: pic.twitter.com/eAXmVS0j2O
— Pritesh Kakani (@pritesh_kakani) April 14, 2024
Also Read: IIT-Bombay Alumnus Posts About Being Unable To Buy Land Even With 1 Crore
What Is The Reaction Of The Netizens?
While some echoed Kakani’s stance, affirming that Rs 20 lakh was indeed a realistic estimate to maintain a good standard of living for a family in a metro city, others vehemently opposed it.
“You are bang on. It is the minimum, I guess,” concurred one user with Kakani.
“I never knew dogs and cars were necessities. If you don’t own a home, you should not buy a car on EMI. Personal Finance 101,” remarked one user, challenging Kakani’s claims.
Responding to the critique, Kakani defended his position, saying, “Car is a necessity in Indian metro cities. Dog expenses are just 6K every year; ignore them. Owning a home is a long process; one cannot postpone a car for it.“
“I thought travel, dog expenses and OTTs were parts of luxury,” expressed a third, to which Kakani replied, “Travel is a necessity after marriage. Dog (expense) is just 6k, ignore it. OTT+movie is just 1k per month, you can ignore it as well.”
“We live in a metro city i.e. Mumbai. Family of 4 on yearly money of seven lakh, including everything. I don’t have a car. It depends on what you choose. I can say spending 20L per year covers a luxurious life, contradicting your tweet,” shared a user.
Kakani countered this assertion, highlighting the exorbitant rental prices in cities like Mumbai, questioning, “Mumbai rent itself is 40K per month. How come you are managing in seven lakh?”
As discussions continue, it underscores the complex dynamics of urban living expenses and differing opinions of what consists of essential vs luxury spending in metro cities of our country.
Image Credits: Google Images
Sources: Hindustan Times, The Economic Times
Find the blogger: Unusha Ahmad
This post is tagged under: IITian, IIT Kharagpur, metropolitan, Bangalore, Delhi, India, Mumbai, EMI, Mumbai, OTT, OTT+
Disclaimer: We do not hold any right, copyright over any of the images used, these have been taken from Google. In case of credits or removal, the owner may kindly mail us.
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