Latest news with #Chakraborty
Time of India
4 hours ago
- Business
- Time of India
As techies complain Rs 50 LPA not enough in Bengaluru, CA decodes what is wrong
Once considered a golden milestone, a Rs 50 lakh per annum salary in India's tech sector is no longer met with the same awe. As the cost of living in Bengaluru and other metros continues to climb, high-earning professionals are beginning to echo a new concern: 'We're earning more, but saving less.' From ballooning EMIs to luxury lifestyle expectations, a CA joined the online debate to decode the truth behind this growing sense of financial discomfort. Chartered Accountant Nitin Kaushik has weighed in with a no-nonsense take that's striking a chord online. According to him, it's not that people earning Rs 50 LPA are broke—they just have a 'budget with holes.' Kaushik believes the real issue lies in financial discipline , not earnings. He points out that most people have enough to save, but poor habits like impulsive purchases, weekend splurges, and ignoring daily micro-expenses leave them cash-strapped. The solution, he says, isn't chasing higher pay but fixing foundational habits: create a monthly budget, automate savings, and track where your money actually goes. His blunt takeaway? Discipline > High Income. Self-control, not a salary hike, is what leads to real financial freedom. — Finance_Bareek (@Finance_Bareek) Delhi-based businessman also joins the conversation Adding fuel to the conversation, Abhijit Chakraborty, a Delhi-based entrepreneur, shared his own experience of living well within his means. He questioned why so many professionals stretch themselves thin with home EMIs of Rs 2 lakh and car EMIs of Rs 50,000, all in the name of lifestyle. Despite earning Rs 30 lakh annually at one point, Chakraborty chose to drive a modest Rs 5 lakh car. Even when his income doubled, he only upgraded to a Rs 10 lakh vehicle, without taking a loan. While he acknowledged the value in investing in property, Chakraborty had little patience for unnecessary car loans and luxury spending. His message was clear: financial stress is often self-inflicted. A fat paycheck won't save you if your priorities are skewed toward keeping up appearances.
The Hindu
9 hours ago
- Health
- The Hindu
Professor Suman Chakraborty appointed Director of IIT Kharagpur
Professor Suman Chakraborty, institute chair professor in the Mechanical Engineering department, was appointed Director of the Indian Institute of Technology (IIT), Kharagpur on Thursday (June 19, 2025). His appointment will end after a period of five years from the date of assumption of charge of the post. On December 31 last year, Professor Amit Patra, Director of IIT, Benaras Hindu University, had taken additional charge as the interim Director of IIT Kharagpur until the regular incumbent took over. Professor Chakraborty is a former student of Jadavpur University in Kolkata as well as of the Indian Institute of Science in Bengaluru. Currently a J.C. Bose National Fellow, he is also a visiting lecturer at Stanford University in the United States. His illustrious career as a scientist is centred around developing several 'affordable, simple-to-execute, and innovative diagnostic solutions' related to common clinical challenges like anaemia, cancer, COVID-19, tuberculosis etc. 'I sincerely appreciate the steadfast support of our IIT family and well-wishers. I eagerly anticipate our shared journey toward cultural transformation, innovation, and excellence as we work together to position our institute among the world's leading academic institutions,' Professor Chakraborty told The Hindu. Earlier this year, he was awarded the 2026 TWAS Award in Engineering and Computer Sciences by the United Nations Educational, Scientific and Cultural Organization (UNESCO). In his long career, Professor Chakraborty has been involved in the development of clinical diagnostic technologies like Covirap, a rapid COVID-19 detection test kit that was granted a U.S. patent for its rapid nucleic acid testing technology using DNA-RNA samples. He has also developed technologies that are currently available in the market commercially, like PrepapQR, a home test to accurately test vaginal Ph, and HemoQR, a simplified anaemia screening test.
Time of India
11 hours ago
- Automotive
- Time of India
You earn Rs 75 LPA and still cry it is not enough in Bengaluru or Gurgaon? Entrepreneur gives a reality check, says I too could have bought a Mercedes
A Delhi-based businessman has triggered a spirited debate across LinkedIn by highlighting a growing trend among well-paid professionals—complaints that even high annual incomes such as Rs 75 lakh fall short of maintaining their lifestyle. His sharply worded commentary questions the logic behind such financial dissatisfaction, especially in cases where excessive borrowing fuels unsustainable standards of living. The Triggering Post: A Wake-Up Call? Abhijit Chakraborty, the entrepreneur behind the viral post, used the platform to express frustration at what he perceived as irresponsible money habits hidden behind a veil of helplessness. His post addressed the numerous narratives floating online—people earning Rs 40 to Rs 75 lakh annually lamenting their inability to survive, citing burdens such as Rs 2 lakh monthly home loan EMIs and Rs 50,000 car EMIs. Rather than sympathize, Chakraborty pointedly questioned why anyone would choose to overextend themselves financially just to uphold a certain lifestyle. While he acknowledged the logic behind property purchases—describing them as rent savings or appreciating investments—he had little patience for large vehicle loans. He found it unreasonable that people justify spending nearly Rs 20 lakh on a car over four years without having secure financial footing. To drive his point home, he rhetorically questioned when owning a premium car became essential for one's identity. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Encontre voos low-cost Voos | Anúncios de Pesquisa Saiba Mais Undo Personal Example to Drive the Point To lend weight to his arguments, Chakraborty shared insights from his own journey. Even when he was earning Rs 30 lakh per annum, he chose to drive a modest Rs 5 lakh car. Upon doubling his salary to Rs 60 lakh, he only then upgraded to a Rs 10 lakh vehicle—still purchased without any loans. His key message was that financial strain is not always about insufficient income but often stems from misguided priorities and impulse-driven purchases. For him, trading peace of mind for the illusion of status made little sense. Divided Reactions on Social Media Chakraborty's post quickly gained traction, drawing a wide spectrum of responses. Some found his tone bordering on boastful. A few commenters implied that the post sounded more like self-praise than genuine advice, particularly pointing out how he subtly slipped in his old salary figures. Others resonated with his critique, agreeing that many professionals fail to distinguish between genuine needs and socially influenced desires. They supported his perspective, noting that a self-imposed lifestyle trap often leads to unnecessary stress. Still, there were contrasting viewpoints. Some argued that in cities like Bengaluru, where infrastructure and housing costs are high, owning a home and a reliable vehicle is no longer a luxury but a necessity. Others added that consumption by such individuals sustains the economy and shouldn't be discouraged outright. A Larger Concern: Credit Culture and Lifestyle Inflation One comment encapsulated a broader issue: the influence of easy loans and social media glamorization of wealth has distorted people's perception of 'enough'. The pressure to constantly upgrade has blurred the line between essential and extravagant. The call was clear—people must begin living mindfully and understand the financial traps they're stepping into. Abhijit Chakraborty, a science graduate from Ramjas College, Delhi University, may have only shared his opinion—but in doing so, he ignited a much-needed conversation on lifestyle choices, ego-driven expenses, and the illusion of wealth in urban India.
The Print
12 hours ago
- Science
- The Print
Professor Suman Chakraborty appointed IIT Kharagpur director
Chakraborty was recently awarded the 2026 TWAS Award in Engineering and Computer Sciences by the UNESCO for his seminal work in micro and nanoscale flows, enabling innovations in diagnostic technologies and improving rural livelihoods and healthcare access for the marginalised populations. Chakraborty, who will take over from the current acting director professor Amit Patra, will be in office for a period of five years with effect from the date of taking charge or till attaining the age of 70 years, whichever is earlier. Kolkata, Jun 19 (PTI) Suman Chakraborty, the Institute Chair Professor in the Mechanical Engineering Department of IIT Kharagpur, and Sir J C Bose National Fellow of the Department of Science and Technology, has been appointed the director of IIT Kharagpur, the institute said in a statement on Friday night. Chakraborty was featured in the list of top 100 researchers across all disciplines in Asia in 2023. A recipient of the National Award for Teachers 2023, a laureate of Infosys Prize-2022 and the winner of the coveted Santi Swaroop Bhatnagar Prize, Chakraborty has been elected as a Fellow of the American Physical Society, the Royal Society of Chemistry, the ASME, Alexander von Humboldt, and all the Indian National Academies of Science and Engineering, the institute said. Chakraborty, who has been appointed as a full-time director by the Centre, joined IIT Kharagpur in 2002 as an assistant professor and has been a senior professor since 2008. On January 1, IIT BHU (Varanasi) director Amit Patra took over as the acting director of IIT Kharagpur, after the end of term of V K Tewari, who was the institute's director till December 31, 2024. PTI SUS ARI This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
21 hours ago
- Science
- Time of India
IIT-Kgp gets full-time director after 6 months
Kolkata: Suman Chakraborty, institute chair professor in mechanical engineering at IIT-Kharagpur, was appointed the institute's full-time director on Thursday. A winner of Shanti Swarup Bhatnagar Prize, Chakraborty is currently a J C Bose National fellow. He was awarded the 2026 TWAS Award in Engineering and Computer Sciences by Unesco for his work in micro- and nanoscale flows, enabling innovations in diagnostic technologies and improving rural livelihood and healthcare access. Chakraborty confirmed he had received the appointment letter for the IIT-Kgp director's post. "The institute needs a cultural transformation. A healthy environment with positive thinking and free flow of ideas should prevail and the environment of intimidation should be eliminated. Young students lost their lives. Despite the institute's efforts, we have not been able to address the matter. If we can collectively work, things will change for the better," he said. "My biggest happiness will be to work for IIT-Kgp's academic progress." After V K Tewari's retirement in Dec 2024, the campus was being run by IIT-Varanasi director Amit Patra. Chakraborty graduated from JU in mechanical engineering in 1996 and did his ME at IISc. He joined JU as a lecturer. He received his PhD from IISc in 2002. He joined IIT-Kgp in 2002 as an assistant professor.
