IIT Graduate Sparks Debate Questioning Whether Rs 20 Lakh Is Enough To Survive In A Metro City

Many people aspire to live in metropolitan cities because they provide numerous career options and a higher standard of living. However, this lifestyle comes at a significant cost because living in such cities is more expensive.

An Indian Institute of Technology (IIT) Kharagpur alumnus recently sparked social media controversy by posting a precise breakdown of expenses for a four-member family from a metropolitan city in India.

Who shared the break-up for Rs 20L for a family of 4 to survive in a metro city?

According to Pritesh Kakani's calculations, a family's annual expenses might total Rs 20 lakh | Image: Pexels

According to Pritesh Kakani's calculations, a family's annual expenses might total Rs 20 lakh, excluding luxury expenses. Soon after his message went viral, it elicited conflicting comments. While some agreed with the price and deemed it credible, others claimed that Rs 20 lakh per year is excessive.

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Kakani's list included areas including rent, food, travel, healthcare, education, and grooming. At the top of the list is the monthly rent of Rs 35,000, or Rs 4.2 lakh a year, followed by food expenses of Rs 10,000.

What other things were included in his list?

Dining out prices are estimated at Rs 4,000, while vacation expenses are Rs 1.5 lakh. Petrol prices are estimated to be Rs 5,350, with medical costs set at Rs 8,000, totaling Rs 96,000 for the year.

He broke down monthly and yearly cost of all expenses | Image: Pexels

The total cost of power and gas is Rs 1,500, while local travel might cost up to Rs 2,000 each month. School expenses are the biggest, totaling Rs 4 lakh for the year. With the list, he wrote, ¡°Family of 4 Expense in Metro city in India is 20 lakh per year. No luxury expense added.¡±

How did people on the internet react?

One user voiced issue about the expense's accuracy, specifically the cost of the automobile at Rs 2 lakhs and food at Rs 1.2 lakhs, which seems suspicious. Another person criticized specific expenses, such as the cost of an Asia vacation, a puppy, and car EMIs.

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A commenter pointed out that a single family wedding could have a significant impact on the costs. An man explained the reason for the high cost of an automobile, claiming that a loan, upkeep, and monthly installments might justify the outlay. Check the viral post here, and join the debate.

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

¡ª Pritesh Kakani (@pritesh_kakani) April 14, 2024

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