An IIT Kharagpur alumnus has ignited a fierce debate on the social media platform X after sharing a detailed breakdown of the cost of living for a family of four in a metropolitan city in India. Pritesh Kakani, the alumnus in question, asserted that an annual income of ₹20 lakh, approximately $24,000, is necessary to sustain a family of four in a metro city, even without accounting for any luxury expenses. His post, which included a screenshot of an Excel sheet outlining various monthly and yearly expenses, has garnered significant attention and sparked a range of reactions from users on the platform.
According to the breakdown provided by Kakani, the annual rent or EMI for housing amounts to ₹4,20,000, while the school fee for a single child is estimated at ₹4,00,000. Other significant expenses include food, which costs ₹1,20,000 per year, and a trip to Asia or within India, which is budgeted at ₹1,50,000. The post, shared on April 14, has since accumulated over 8.3 lakh views and continues to attract engagement from users.
Many individuals have contested Kakani's claim that ₹20 lakh per year is a necessity for a family of four to live in a metro city. Some users questioned the inclusion of expenses such as dog care and car ownership, arguing that these are not essential costs. One user commented, "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." Kakani responded by stating that owning a car is a necessity in Indian metro cities and that dog expenses, amounting to just ₹6,000 per year, can be ignored.
Another point of contention was the inclusion of travel expenses, with some users suggesting that travel, along with dog expenses and OTT subscriptions, should be considered luxury items. Kakani countered this argument, stating that travel becomes a necessity after marriage and that the combined cost of OTT subscriptions and movies is a mere ₹1,000 per month, which can be disregarded.
Some users shared their personal experiences of living in metro cities like Mumbai, claiming to manage expenses for a family of four on a significantly lower annual income of around ₹7 lakh. They emphasized that the cost of living depends on individual choices and priorities. Kakani, however, questioned the feasibility of managing expenses in Mumbai with such a low income, given the high rental costs in the city.
The debate surrounding Kakani's post highlights the varying perspectives on what constitutes a necessary expense and the challenges of living in metropolitan cities in India. While some argue that the ₹20 lakh figure is an accurate representation of the cost of living in metro cities, others maintain that it is possible to manage expenses with a lower income by making judicious choices and prioritizing essential needs.
