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2 years ago it was estimated that raising a child for a middle class family costs nearly INR 55 lakhs, today it would cost INR 66 lakhs, thanks to the 9.5% annual rise in consumer price in the past 2 years.

For parents,  the big worry is that education expenses, which account for more than 45% of total expenditure on a child are rising at 12%. Even the modest 6% inflation rate  can bloat the cost of the financial goal over the long term. At 12% the cost doubles every 6 years.

SOURCE: TOI Article 04/11/13

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