Reality Check: Even Rs 1.5 lakh+ salary not enough to cover family expenses in Indian metros? IITian's post goes viral

In a recent online discussion, sparked by a post from an alumnus of IIT Kharagpur, Pritesh Kakani, a debate has emerged regarding the necessary expenses for families living in metropolitan cities like Mumbai, Delhi, or Bangalore. Kakani's assertion that a staggering Rs 20 lakh per year is required for a family of four to maintain a basic standard of living in a metro city has drawn both support and opposition from netizens.

Kakani took to the platform X to share a breakdown of expenses for a family of four, emphasizing that the figure of Rs 20 lakh annually was devoid of any luxury expenses. His post, accompanied by a screenshot of an Excel sheet detailing monthly and yearly expenditures, quickly gained traction, garnering over 8.3 lakh views since its posting on April 14.



According to Kakani's breakdown, annual rent or EMI accounts for Rs 4,20,000, while school fees for a child amount to Rs 4,00,000. Additionally, food expenses are estimated at Rs 1,20,000, with travel costs pegged at Rs 1,50,000 for a trip within Asia or anywhere in India, among other expenditures.

The online discussion ensued with various individuals expressing divergent opinions on the matter. While some echoed Kakani's stance, affirming that Rs 20 lakh was indeed a realistic estimate for sustaining a family in a metro city, others vehemently opposed it.

One user concurred with Kakani, asserting, "You are bang on. It is the minimum, I guess."

Conversely, dissenting voices challenged Kakani's claims, questioning the inclusion of certain expenses deemed non-essential. "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.

Responding to the critique, Kakani defended his position, stating, "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."

The debate further intensified as participants delved into personal anecdotes and contrasting experiences. A user shared, "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."

Kakani countered this assertion, highlighting the exorbitant rental prices in cities like Mumbai. "Mumbai rent itself is 40K per month. How come you are managing in seven lakh?" he questioned.

As the discourse continues, it underscores the complex dynamics of urban living expenses and the varying perspectives on what constitutes essential versus discretionary spending in metro cities.