Subhechcha Ganguly 
Determining the ideal monthly income in India depends on various factors, including location, family size, and personal aspirations. In urban areas, where the cost of living is significantly higher, an individual would require a higher income to maintain a comfortable standard of living. According to reports, a family of four in metropolitan cities like Delhi or Mumbai requires a minimum income of around ₹60,000 to ₹70,000 per month to cover basic expenses, such as rent, utilities, groceries, transportation, and education. This figure allows for a modest lifestyle without compromising on essential needs.
However, the ideal income should also factor in long-term goals like savings, investments, and retirement plans. Experts recommend setting aside at least 20% of one’s monthly income for savings and investments to build financial security. A reasonable income should enable individuals to contribute to health insurance, pay for education, save for emergencies, and even indulge in leisure activities occasionally. For those aspiring to own a home, an income of ₹1 lakh or more may be necessary, especially in tier-1 cities, considering housing costs and EMIs.
The ideal income also varies based on the individual’s personal ambitions. While a basic income that meets all needs is crucial, many aspire to live comfortably, travel, and enjoy luxuries. In India, where income disparities exist across different regions, what is considered ideal varies. Rural populations often have a much lower cost of living, where ₹20,000 to ₹30,000 might suffice for a family. Ultimately, while the “ideal” income can differ, financial literacy, budgeting, and smart investing can allow anyone to live a balanced and fulfilling life.
