While the world-famous Taj Mahal gets the most attention, many expats\travellers find that India’s wonders never cease. The country offers a variety of regionally distinctive food, traditions, ancient history, and vibrant cities with booming tech industries. Visitors can enjoy the stimulating and lively pace of life with a cost of living in India 82% lower on average than in the other Asian Countries.
India is quite cheap compared to many other countries. The cost of living depends on what you do and where you live in India. Basic needs living costs such as food, water, and shelter cost you around 15000 to 20000 INR(Rupees). Depending on your expense, it may result in a higher amount or lower amount.
The cost of living in India depends not just on the city you want to live in. It also depends on the area of the city and what kind of lifestyle you aspire to live. If you plan to move to one of India’s metro cities like Mumbai, Bengaluru, Gurugram, or New Delhi you should expect to pay more. But, whether you are temporarily relocating for school or work, or moving to an Indian city for good, this guide will walk you through everything you need to know about your cost of living in India.
Money and banking
The Indian rupee is the currency of India. The currency code for Rupees is INR, and the currency symbol is (₹). There are various ways of making payments in India. Such as cash, credit cards, debit cards, electronic wallets, smart cards, net banking, and many more. As per the government initiative for cashless transactions, you can make payment by just scanning the QR code only. Foreign nationals, who are staying in India for a long period due to work or business reasons, would need to make and receive rupee payments. Therefore, it is a good idea for them to have a bank account in India. They can open savings or current accounts with any of the banks in India. The foreign national is required following documents to open a bank account.
Education
The school system in India has four levels: lower primary (age 6 to 10), upper primary (11 and 12), high (13 to 15), and higher secondary (17 and 18). The lower primary school is divided into five “standards”, upper primary school into two, high school into three, and higher secondary into two. Students have to learn a common curriculum largely (except for regional changes in their mother tongue) till the end of high school. There is some amount of specialization possible at the higher secondary level. Students throughout the country have to learn three languages (namely, English, Hindi, and their mother tongue). Except in regions where Hindi is the mother tongue and in some streams as discussed below.
Young people who do not wish to go on to tertiary education, or who fail to complete secondary school often enroll at privately-owned vocational schools that specialize in just one or only a few courses. Unlike in the United States, vocational and technical education is not highly specialized and is rather a broad overview of knowledge applicable to employment.
Health Care
The health system, according to the Commonwealth Fund in India is characterized by two very different sectors: the public, and private systems. Indian citizens have access to free outpatient and inpatient care in public, government facilities. There is no option for expats to qualify for public health insurance. This is because the Ayushman Bharat program is designed to serve the local population. Ayushman Bharat is a national public health insurance scheme of the government of India that aims to provide free health insurance coverage to low-income earners in the country. Expats living in India and those traveling to India can usually be treated at public hospitals, but they will have to pay out of pocket as they aren’t citizens. The costs are very modest, and a consultation can be as little as a few dollars.
Travelling cost
The cost of traveling in India can vary depending on the level of comfort you need and your style of traveling. People can reach their destination cost-effectively by using local transportation like buses, taxis, and trains in India. You can also book a private taxi using mobile applications.
In metro cities and localities where taxis are expensive, people use shared taxis. These are taxis that carry one or more travelers traveling to destinations either en route to the final destination or near the final destination. The travelers are charged according to the traveled destination and several people traveling together.
The Indian transport system offers you a variety of services that suit you and your pocket as well. It depends on how you want to travel and what kind of comfort you want during the journey. As India is changing and modernizing quickly, the range of options and services for travelers is increasing. You can still travel in India very cheaply or you can also travel in good comfort, or even ultimate luxury if you are prepared to pay.
Cost of meals in India
India is one of the cheapest countries when it comes to food, You may quickly find food in India to be different from your local Indian restaurant back home. But you are sure to expand your horizons with its broad diversity of flavors, spices, and regional specialties. The best part? Great food and an evening out on the town won’t cost much.
While bigger cities and tourist places may have expensive food options, in general, food prices in India are quite low.
If you eat at local restaurants, you would get breakfast (omelet/parathas/idli/dosa) and a cup of tea or coffee for around INR 60-80 (443-591XAF),(1 USD) per person. A warm and fulfilling lunch and dinner would cost you a minimum of INR 80-150 (591-1,109CFA) (1-2 USD) per person per meal.
Whether you have budget constraints or want to try gourmet food, Indian food caters to all taste palates and prices.
Accommodation
The cost of accommodation will depend on your accommodation budget. Hotel tariffs are generally higher in major cities and tourist havens, and during the peak winter months of December, January, and February, they’re lowest in the off-season and the monsoon season which is from mid-June to September ( time for heavy rains) As a budget traveler you can easily find hotels and hostels in India between INR 700-1,500 (9-20 USD, 5,173XAF -11,086XAF) per night that offer a clean simple room or a nice dorm bed. Breakfast is sometimes included.
Tax
Expats(The term often refers to a professional, skilled worker, or student that intends to return to their country of origin after completing their purpose for residency in another country). Anyone moving to India must register for a Permanent Account Number (PAN). You can have this done through the Indian income tax authority, completing several forms. Tax numbers are issued within 15 days of application. You must apply immediately on arrival – proof of application is necessary to register with the Foreigners Regional Registration Office.
Income taxes are calculated in the tax year, and your tax obligations will depend on whether you are a resident. Most expats are considered non-residents, or residents who are not ordinarily resident, for the first two tax years.
The Indian tax system uses income tax ‘slabs’, similar to tax brackets in the UK, and applied to the relevant fiscal year in the following assessment year. Tax slabs are as follows for the 2023-23 fiscal year, which is the 2024-25 assessment year.
Touristic Sites
India is a land of diverse landscapes offering myriad experiences to people of all ages. Brimming with natural heritage and numerous natural wonders, this beautiful country welcomes all tourists with an open heart. Perhaps India’s most recognizable building, the Taj Mahal is also the world’s most famous testimony to the power of love. Named after Mumtaz Mahal, the favorite wife of Emperor Shah Jahan. This most beautiful mausoleum was begun upon her death in 1631 and took 20,000 workmen until 1648 to complete.
Another Attraction is Harmandir Sahib: The Golden Temple of Amritsar opened in 1604. It is still often referred to as the Golden Temple for its beautiful gold decoration. Other destinations are; The Red Fort, New Delhi, Mumbai: The Gateway of India, Amer Fort, Jaipur, Periyar National Park, and Wildlife Sanctuary, Agra Fort among others. The best time to visit India is between November and March. That’s when much of the country experiences cooler temperatures and significantly less rain. Most tourists visit in November and December.
Moving to another country can be challenging. You can ensure peace of mind by ensuring you have the right international health insurance. Moving to India is an exciting adventure that requires thorough planning and preparation. By following these essential tips, you can ensure a smooth and successful relocation experience. Remember to embrace the rich culture and diversity of India. Respect local customs and traditions, and good luck with moving to India! NAMASTE!
