New Delhi: In the current economic landscape, the purchasing power of individuals has seen a notable decline, primarily attributed to inflationary pressures and escalating living expenses. This trend is particularly pronounced in metropolitan areas, where exorbitant property prices and soaring costs of goods and services exert a considerable strain on households. Against this backdrop, a recent post by a user, identified as Akshat Shrivastava, has prompted contemplation on the value of ₹1 crore in todays economy.Rs 1 crore falls short for purchasing a flat in MetropolitansShrivastava candidly remarked that Rs 1 crore falls short of facilitating the purchase of a decent dwelling in major urban centers like Mumbai, Delhi, or Gurugram. Furthermore, he highlighted the inadequacy of this amount in funding overseas education, such as MBA programs, or securing admissions in prestigious international schools, particularly in cities like New Delhi.What 1 Crore gets you[1] You cant buy a house in Mumbai, Delhi, Gurugram (at least not a liveable one for a family)* You could look at something at the outskirts (maybe). And commute for hours.[2] You cant send your kids abroad for studying at most MBA programs abroad…— Akshat Shrivastava (@Akshat_World) April 8, 2024His assertion delineated the challenges faced by individuals aspiring for homeownership or seeking avenues for quality education amidst prevailing economic constraints. You cant buy a house in Mumbai, Delhi, or Gurugram (at least not a liveable one for a family). You could look at something on the outskirts (maybe) and commute for hours, Shrivastava remarked. He underscored the financial hurdles involved in pursuing educational opportunities abroad, emphasizing the prohibitive costs associated with such endeavors.Erosion of purchasing powerMoreover, he attributed the erosion of purchasing power to the ramifications of excessive money printing and mounting debt, encapsulating the prevailing economic realities. His candid observation resonated with many users, inciting a spirited discourse on the microblogging platform.Among the respondents, varied perspectives emerged, reflecting the nuanced perceptions regarding the value of Rs 1 crore in contemporary society. While some echoed Shrivastavas sentiments, citing similar experiences and expressing solidarity with his viewpoint, others offered contrasting opinions.Conflicting views One user underscored the depreciating value of money, asserting, Forget a house, MBA program, or school admission, the amount of 1 crore cannot even get you a Maybach or a Da Vinci painting or a month-long sojourn in any Alps ski resort. Such has been the erosion of money. This perspective underscores the profound impact of inflationary pressures on the purchasing power of individuals, extending beyond basic necessities to luxury expenditures.Conversely, another user challenged the notion of financial constraints, contending that Rs 1 crore could afford a comfortable lifestyle in tier 2 cities, and not everyone aspires for overseas education for their children. This viewpoint emphasizes individual preferences and the significance of mindset in shaping perceptions of financial adequacy.Similarly, a third user advocated for prudent financial management, suggesting alternative strategies such as investment and education loans to mitigate the limitations imposed by a fixed monetary sum. If you have 1 crore, you could easily rent any good place off its interest. You can easily avail education loan if you want to pursue MBA programs abroad, the user remarked, emphasizing the importance of tailored financial planning.
