Nice to have good objective insight. Is that 100k while living in India? Or in the US? That must be pretty insane quality of life then if they are in India, comparing to the average population. Genuinely curious, wouldn't that mean Bangalore would have inane cost of living and inflation if all those people were making 6 figures usd?
While living in India. Regarding the cost of living, it has increased considerably. It's not uncommon to see houses going for 400k USD and in prime locations more than a million dollars. The thing is things are also cheap if you know where to look at because not everyone is earning in that. Still majority of city would not be in IT like the drivers, maids, and others. The salary for such people should be around 2000 USD annually.
Wow that's a great deal. How many years did that go on for?
I personally was using that for half a decade. But I think the laws for indexed taxation was from the beginning when these instruments were introduced in the market.
If people in the IT industry are making 100k why not increase their tax bracket? That would bring in funds.
It's already at more than 40% if you're earning more than 50,000 USD ig( it's around that, don't know if it is exactly). The problem isnt tax it's corruption. Places like Delhi have a really good public transportation system. The metro reaches almost everywhere. Places like Noida Gurgaon are also doing good in infra. Hyderabad for one has really good and wide roads, I mean majority of my friends who plan on going back would be buying some villa in Hyderabad as things are still sane there. But banglore was given a silver spoon( IT Companies started to sprung up there because the weather was really cool so you didn't have to spend much in cooling costs of computers servers etc. It wasn't some state of the art policies and incentives the locals provided just good geography. And then you know the cycle in tech, people moved there bcz that's where the companies are and companies moved there bcz that's where the people are.) . And yet they wasted it on corruption, people appeasement, welfare policies.
And there's another, municipalities don't have much financial independence, their budget is mostly approved from state government and they can't run deficits so even the municipalities which wants to do good cant do much because of lack of funds( as funds collected from them have to be passed on to state and state decided to use that money to subsidise rural places as that's where majority of votes lie and cities needs are ignored).
This is the real problem. Will be their downfall if they don't change this.
Oh boy you don't know the extent of propaganda, pseudoscience etc that has made its way in every part of India. See what the problem is.. india didn't have much access to internet pre 2015 ig but with the introduction of jio things changed, most of the country got connected to internet. Now it was a huge opportunity for political parties. And BJP used it to full extent. It bought all the media houses(all of them) and now they mostly just parrot the supreme leader. I mean he is the only PM which hasn't taken a press conference yet( there was one but it was scripted no uncomfortable questions). So what you have is you open the news, all of them are BJP spokesperson, you open the YouTube channels and lot of them are sponsored or supported by BJP and they produce a ton of India superpower or china shit videos to make themselves feel better. Every baby step in right direction is shown as revolutionary, every bad thing is pushed under the rug so yeah the Atmosphere of politics have changed a lot in the country..
It's good enough that we left last year fed up with all these things. And there's no sour grapes. I was making 50K USD ( CTC was 45 lakh pa inr)at a fintech company in banglore and around 100k in online business. Moved to Dubai as I think next few years or decade might be a disaster in making. I'm still in my mid 20s to I can move back a decade later or just go back to Malaysia but family is in India and they don't want to move anywhere so. Duabi is just 4 hrs from Hyderabad by flight so it's close enough to get to them in case of emergency but yeah apart from family I don't really want to go back
