IITian in Bengaluru raises alarm over rising cost of living: ‘India is getting really expensive'
An IIT Bombay graduate has raised alarm over the rising cost of living in India, saying it has not spared even the smaller cities. Bengaluru-based Monali Dambre took to the social media platform X to share her concerns.
Monali, a member of the founding team at Agno, said that she is genuinely worried about how the middle and lower classes will survive in the coming years. Drawing from her personal experience, the IITian said her grocery bills in Bengaluru are starting to feel 'unusually high'.
'I'm slowly coming to terms with the fact that the cost of living in India is getting really expensive—even in smaller, tier-3 cities,' she wrote on X. 'And honestly, I'm starting to feel genuinely worried about how the lower and middle class are managing to survive… or how they're going to survive in the next few years.'
Monali, who graduated from IIT Bombay with a BSc in Economics, added that despite living in a relatively well-paying tech hub like Bengaluru, her grocery bills are skyrocketing.
'Even in Bangalore, my grocery bills (which include only absolute staples—nothing fancy or luxurious) are starting to feel unusually high,' she wrote.
And this increase is not limited to exotic fruits and imported items - even buying staples and essentials is beginning to feel unaffordable. 'Just basic fruits, veggies, and daily essentials—and it still feels like thing have got expensive than they should have,' said the Bengaluru-based woman.
Her post has sparked a spirited discussion about life and cost of living in India.
In the comments section, some suggested she step out to shop instead of relying on quick commerce apps. Others, however, countered this argument by saying in-person shopping is as expensive – if not more – than ordering groceries online.
'Initially we used to go to a local market to shop but it's the same price as Qcomm , and inconvenient,' Monali agreed.
'Rupee is collapsing compared to gold. Its showing this in all hard assets. Anything plastic or digital will remain at same price but anything that takes real energy to produce and distribute is increasing in cost. Add to it ultra high tax burden and speculative real estate,' an X user named Harsh opined.
'Yes the inflation on food and groceries is way too high. In general cost of living has increased bar above the usual 5-6% annual year on year limit,' another X user added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
20 minutes ago
- Time of India
Byju's sells US-based arms at steep discount
Bengaluru: Byju's has sold its US-based subsidiaries, Epic and Tynker, as part of US bankruptcy proceedings, in what appears to be a fire sale. This marks the latest step in the Indian edtech company's asset liquidation following its financial collapse. Tired of too many ads? go ad free now Epic was acquired for $95 million by the Chinese education firm TAL Education Group, while CodeHS purchased Tynker for $2.2 million in cash, according to court filings. Both transactions were approved by US Bankruptcy Judge Brendan Shannon on May 20 and are intended to help lenders recoup losses from a $1.2 billion term loan extended to Byju's. Tynker was acquired by Byju's in 2021 for a reported $200 million, while Epic was bought the same year for about $500 million. The latest sale values underscore the sharp write-downs now facing the company's global portfolio. According to a report by EdWeek Market Brief, Tynker's latest sale followed 48 rounds of competitive bidding between CodeHS, operating through a newly formed entity called Tynker Holdings, and another party, Future Minds. CodeHS CEO Jeremy Keeshin, identified in court as the sole member of Tynker Holdings, said the acquisition would allow the company to support learners as they progress from basic coding tools to advanced computer science content. Epic's sale faced an eleventh-hour intervention from the US Department of Justice, which flagged the potential need for a CFIUS (Committee on Foreign Investment in the United States) review due to the buyer's Chinese ownership, court records show. Judge Shannon described the episode as a "fire drill," though the transaction ultimately received approval. Both sales are being overseen by a court-appointed trustee managing the asset disposal on behalf of creditors. Tired of too many ads? go ad free now Byju's, once valued at $22 billion, is now facing insolvency proceedings in India over non-payment of dues, while its international operations are being dismantled through US bankruptcy court. TOI previously reported that the asset sales form part of a larger restructuring effort as Byju's attempts to navigate legal, regulatory, and financial pressures following its aggressive global acquisition spree. Other subsidiaries, such as Aakash, remain under scrutiny amid separate legal proceedings.
Mint
an hour ago
- Mint
China's Bankers Ditch Global Hotel Chains as Travel Budgets Bite
(Bloomberg) -- These days, Shanghai-based banker Jason Zhang can no longer stay at the Westin hotel in downtown Beijing's financial district after his company cut its travel budget. Instead, he had to settle for a cheaper domestic hotel chain. To his surprise, the discount in room rate didn't lead to a discount in experience. Yes, the expansive breakfast buffet is gone, but Zhang relishes the local dishes served at the domestic chain Atour. Its pillows and comforters are so popular that many guests buy them after checking out. There's no scramble to pack and leave in the morning as checkout can wait until 6 p.m. Zhang is not alone in switching hotels. Chinese banks have scaled back travel perks since last year, barring staff from flying business class and booking pricey hotels, as China's economy slows and companies tighten their purse strings. And while it's making things tough for the top-end international brands, the greater financial prudence has opened up opportunities for smaller local chains that focus on the needs of business travelers. While spending on work-related travel in China slowed in 2024, it still grew to a record $372.5 billion, according to market researcher China Trading Desk. But much of the growth is being captured by hotels offering modest accommodation rather than the luxury end of the spectrum. Mid-range local brands could expand their market share from 45% in 2023 to up to 75% by 2028, the consultancy says. That's giving domestic chains a boost. Atour Lifestyle Holdings Ltd posted record revenue growth of 55.3% to 7.25 billion yuan ($1 billion), thanks in part to sales of its pillows and comforters. Another hotel chain H World Group Ltd saw revenue jump almost 10% year on year. This is in contrast to the major international brands, which are struggling in the Greater China region compared to the rest of the world. InterContinental Hotels Group Plc saw room revenue for business trips in the region decrease 5%, compared with a 2% increase globally. Hilton Worldwide Holdings Inc. says its revenue per room in Asia Pacific was flat, dragged down by China. Marriott International Inc. also saw its Greater China revenue decline, citing weaker domestic demand. 'The primary driver behind this transformation is corporate cost-cutting measures,' said Subramania Bhatt, chief executive officer of China Trading Desk. 'Beyond price, local brands have developed several competitive edges that appeal to business travelers.' While tighter travel budgets are a key reason some are switching hotel brands, it's only part of the story. Local chains unable to match international five-star chains in prestige and glamor are trying to make up in other ways. Yongbin Xu, a director at a private fund management company in Shanghai, used to stay at Marriott or Shangri-La hotels on work trips but has now switched to Intercity, an upper mid-scale brand operated by H World Group. He made the change not because of corporate cutbacks, but because he likes the location and service of Intercity hotels. A room at a Shangri-La or Marriott hotel in Shenzhen costs between 1000 yuan and 1200 yuan per night, while Intercity charges around 700 yuan for a room in the central business district. 'Of course, those hotels sacrifice some services, but for business trips, I don't have time to use the swimming pool or other high-end services,' said Xu. Xu's favorite service at H World: Robots that help ferry food deliveries from the hotel entrance to his room upstairs, whereas international brands ask guests to go all the way down to the entrance to pick them up themselves. Another perk that has won over many local travelers is free laundry, either through self-service washing machines or through a pick-up service. By contrast, it normally costs from 30 to 100 yuan per item for laundry services in the five-star hotels in Beijing and Shanghai. Local chains have also sought to gain an advantage over their larger rivals by the strength of their mobile apps, through which guests can access a broad array of services, such as selecting your own room or requesting more water, without having to speak to reception. While Chinese domestic hotel brands have become more competitive, they also face a number of challenges, including rising operational expenses and cut-throat price competition due to the surge in the supply of rooms in smaller hotels, guesthouses and home-rental apps in the country. By the end of 2024, the number of hotels in China had risen to 348,700, with 17.6 million rooms, both record highs, according to a report by the China Hotel Association. This weighed on the average room rate for both domestic and international brands, which declined between 2% and 7% last year. And prices may face even greater pressure in the coming years as the major chains keep expanding to meet rising demand from Chinese travelers. 'The downward trend in hotel prices and profits will continue this year due to oversupply, increasing the risk of investing in new hotels,' said Zhao Huanyan, a Shanghai-based independent hospitality industry consultant. Despite stronger sales, H World Group saw its profit decline last year due to expenditure on renovation and service upgrades. For Atour, its breakneck expansion appears to have led to a lapse in quality control. The pillow cases at one of its hotels in Hangzhou were found out to be ones meant for a hospital, sparking widespread media and online scrutiny. Atour later explained in a statement that it was a sorting mistake by its laundry supplier and temporarily closed down the location to replace all bed linen. In response to rising local competition, international hotel chains have been expanding their mid-range options in China. Almost 80% of the new hotels IHG has in the pipeline in the Greater China region belong to their more affordable brands, compared with around 20% in their luxury segment. Marriott's chief financial officer Leeny Oberg highlighted in the company's earning call in May the 'terrific interest' in their mid-tier brands. But for Zhang, it's unlikely to be enough to persuade him to switch his allegiance back from China's domestic chains. 'I expect I'll continue to stay at Atour hotels in the future, even for personal trips, as I've come to like them.' More stories like this are available on
Hindustan Times
2 hours ago
- Hindustan Times
Harvard may get some of its funding back. But on one condition, says Education Secretary
Education Secretary Linda McMahon said on Tuesday that Harvard and other universities could get back some of the federal funding cut by the Trump administration if they changed their policies. 'It would be my goal that if colleges and universities are abiding by the laws of the United States and doing what we expect of them, that they can expect taxpayer funded programs,' the secretary said at a Bloomberg News event. McMahon said that the Trump administration was "making progress in some of the discussions" with Harvard, despite the ongoing legal battles. The secretary emphasised that the federal funding has a role to play in academic research at the universities. 'I think if we look at our research as for the public good, which I think is intended, then taxpayers are willing to see their tax dollars to support that kind of really good research. And so I'm sure that would continue at the university level,' she said. President Donald Trump has frozen more than $2.6 billion in federal research funding to Harvard and has moved to cancel its federal contracts. The Trump administration justified the actions as part of its effort to eliminate antisemitism on campus. Meanwhile, Harvard has also taken the fight to the court with two lawsuits against the Trump administration, challenging both the loss of federal funding and a decision by the Department of Homeland Security to revoke its license to enrol foreign students. The administration reportedly also asked the university to share its records about misconduct by international students on campus. However, it said that the college has not offered enough information to satisfy their requests. The Trump administration and Harvard have been at loggerheads, with the President repeatedly singling out the institution and taking aim at its perceived left-leaning and admission practices. Trump has proposed that Harvard's federal funding be moved to trade schools and called for its tax-exempt status to be removed. President Donald Trump recently said that the Massachusetts-based school was "starting to behave". Meanwhile, Harvard has rejected the administration's demands that it implement "viewpoint diversity" on campus in its hiring and admission practices. Columbia University has also lost about $400 million in federal funds and did not sign onto the "friend of the court" argument. Other private colleges, including Cornell University, Princeton University and Northwestern University, also have seen funding revoked in the Trump era.
