"Rs 13 Lakh A Year": Mumbai Man Highlights High Cost Of Raising A Child, Sparks Debate

A LinkedIn post by a Mumbai-based man has caught widespread attention for highlighting just how expensive it has become to raise a child in urban India. In his post, Ankur Jhaveri calculated the cost of raising a child in a metropolitan city after having a conversation with his cousin, who teaches at an international school. "I never realised the real cost of raising kids in India, until I met my cousin last week," he wrote in his post, before offering a glimpse into the staggering numbers involved. 

According to Mr Jhaveri's breakdown, just the tuition fee at a reputed international school could set parents back by anywhere between Rs 7 to Rs 9 lakh a year. That, he said, was just the beginning. "Add to it the cost of uniforms, books, private tuitions and other stuff - another 2 to 4 lakhs a year," he added, bringing the total education-related expense to roughly Rs 12 lakh a year. 

Then, Mr Jhaveri also factored in a few other expenses. "Add to it some additional coaching/extra-curricular activities, clothes, birthday parties, leisure expenses, etc., at Rs 8000-10,000/month (Rs 1 lakh a year)," he wrote. Altogether, he estimated the yearly spend at roughly Rs 13 lakh per child. 

Mr Jhaveri then calculated that if a parent spends roughly 30% of their income on their child, the net salary needs to be around Rs 43-44 lakh per year. And when you include taxes, the figure goes up further.

"But wait...Picture abhi baaki hai mere dost... The fun part is still left - Income Tax! Assuming you pay 20% of your salary as tax... your gross salary, to afford this lifestyle for your kids, should be about Rs 55 lakhs," he wrote.

It doesn't end here. "This is if you have ONE kid," he pointed out. "Have another one, and these numbers increase substantially," he said.

In the conclusion, Mr Jhaveri wrote, "I always used to wonder why people these days don't want to have kids. Now I know why..."

He also acknowledged that his figures were a rough estimate and invited input from parents: "Those of you who actually have kids, please tell me what else I'm missing (I'm sure there's something)."

Also Read | 41-Year-Old Longevity Doctor Claims His Biological Age Is 24, Reveals 3 Supplements He Takes

Predictably, the post has sparked a debate online. While some parents agreed with Mr Jhaveri, others argued that such expenses only applied to those aiming for premium education in metro cities. 

"This is present cost. What about the future cost of any professional degree or course, especially if planning abroad?" wrote one user. "I guess the real problem that needs to be solved first is not the high cost of Education..... It's FOMO," commented another. 

However, disagreeing with Mr Jhaveri, one user said, "I would tag these schools as "branded" schools. My school fees was less than Rs 15k a year, i believe it has not touched the lakh figure yet. So choosing good school vs branded one is more important." 

"I am shortlisting schools... and you get decent ones within a lakh to Rs 1.5/yr all inclusive," arguing that the estimate seems skewed by considering only top-tier schools," commented another.