Around the world, the cost of having a baby can vary greatly. In some countries, such as the United States, the cost of childbirth and prenatal care can be quite expensive. However, in other countries, the cost of having a baby is much lower. India is one such country where the cost of having a baby is much less than in other parts of the world. But it doesn’t mean that isn’t it expensive, in India, the cost of having a baby can be pretty high too.
The healthcare system of India between a private and government hospital benefits the Indian citizen as both the hospital provides their services at an affordable cost. From medical treatment to child’s education planning a child in a family requires a certain percentage of the cost. The cost of a baby’s birth to higher education is the major concept that should be considered while planning a child in India.
How much does it cost to plan for a baby in India? The complete cost of pregnancy and medical treatment can vary from 1,00,000 to 20,00,000 rupees depending on the standard of the private hospital and other treatments involved. It also varies according to the standard of living and the income scale of each family. The cost of planning a baby in India can vary according to their quality or standard in different cities. In this article, we are going to discuss the medical-non-medical or higher education expenses that parents have to pay when planning for having a baby in India.
In This Article
- How much costs need to plan a child in India 2022?
- Costs of prenatal care: (0-9 months)
- Cost of baby delivery: (During birth)
- Cost of raising infants: (0-1 years)
- Cost of raising toddlers: (2-4 years)
- The primary school expenses: ( 4-12 years)
- The middle school expenses: (12-15 years)
- The High school expenses: (15-18 years)
- The Graduation expenses: (18-21 years)
- What are the affecting factors of costs?
How much costs need to plan a child in India 2022?
Although financial planning is necessary for parents who are planning their baby in India, it is not so important to them. Even today 60% of Indian parents are still children without any financial planning for their baby. Baby planning in India is the key to starting the journey of parenthood with a sound financial footing. However, while most couples plan for their child’s education and marriage expenses, very few provide for their child’s future. Many parents plan financially only after the birth of the child, but this is not enough. Below we have mentioned miscellaneous expenses from your child’s birth to their higher education and they are:
Costs of prenatal care: (0-9 months)
For pregnant women, the cost of prenatal care is around INR 40,000.00 to 2 lakhs. If you have care costs with healthcare insurance benefits, then the cost may be very less. For parents who are planning for their baby in India, it is important to prepare a suitable child plan for prenatal care before their child’s arrival. Some insurance companies also offer maternity coverage under health insurance policies to meet part of this major expense, but many do not. Look at the below table to know how much it will be cost to have a baby for prenatal care:
Cost of baby delivery: (During birth)
If you have normal delivery then it costs around 20,000 to 40, 000 in top cities. If you have caesarean delivery then it can cost up to 40,000 to 1 lakhs or more. Many urban families are opting for caesarean delivery because of fear of complications during labor as well as expensive doctors’ fees and often due to medical reasons. If you have adequate insurance, you can reduce the cost of c-section delivery. Below we have mentioned the cost of the delivery table and it is:
Cost of raising infants: (0-1 years)
If you have a baby then it is going to cost you around 45,000 to 1,00,000 on average. The cost of baby care products will be around 2,500-3, 000 per month depending upon the quality of baby products and the locality where you live. In addition to baby clothes, daily check-ups, and other medicines will require around 1,000 to 2,000 rupees. The cost of food and other eatables per month is going to be around 5,000-6,000. Moreover, in your child’s life (approximate), you will end up spending more than 4,00,000 on him or her. Look at the below table to adequate costs:
Cost of raising toddlers: (2-4 years)
If you have a toddler then it is going to cost you around up to 80,000 to 3 lakhs on average. The cost of a child’s school fees is up to 30,000-50,000 per year. In addition to daily costs as well as the cost of food and water, your child will require a lot for his or her education so you should be well prepared with at least 3 lakhs or more. From their birthday gifts to your kids’ toys, to playing games with them, you have to spend a lot. Look at the below table to get an idea:
The primary school expenses: ( 4-12 years)
For raising a child till his or her primary school, you should be well prepared with at least 5 to 6 lakhs. The costs of educational costs such as books and other schooling materials will cost around 1,500-6,000 per year. School fees should not exceed 80,000 to 3 lakhs per year because high-quality institutions are becoming more expensive. In addition to extracurricular activities , school tours and other trips will require a lot of money. As well as in your child’s different life stages the medical expenses are going to be a lot. Here’s a quick preview of the estimated total costs:
The middle school expenses: (12-15 years)
When your child grows to become a teenager and you enroll him or her in middle school. Then they will need to be prepared with at least 8 lakhs. For books and other schooling materials, children should spend around 1,500-6,000 per year. School fees average 5,000 to 20 000 per month because of higher quality institutions. The annual fees can be highest to middle school and it can cost you around up to 80,000. Look at the below table to know more about the estimated costs:
The High school expenses: (15-18 years)
From primary to higher education the system is similar but it charges more. So you should be ready with at least up to 10 lakhs to get your child through high school. Book and other education costs such as schooling materials will cost around 2, 000-8,000 per year. School fees average 7,000 to 30 000 per year. So, if you start saving now then when your own retirement comes you will be able to pay your child’s school fees. In addition to extracurricular activities, your child will need a lot of money for his or her hobbies and sports. Look at the below table:
The Graduation expenses: (18-21 years)
For your child’s education at college, it might cost you up to 20 lakhs. Usually, your child will have to spend around 6,000-15,000 per year on books and other education costs. A college education is becoming more expensive so it’s better to start saving early. Your children can get help with their educational expenses by getting student loans or taking out personal loans. In addition, mobile, laptop, clothes, food and other things will also cost you a lot. As well as the medical expenses for this period are much higher than before because of their regular health checkups. At this stage too, your child’s hobbies and sports will require more money. So, having 2 crores and more in your savings account is going to be a good idea. Look at the below table to know the estimated costs to raise a child:
What are the affecting factors of costs?
Furthermore, costs largely depend on the place where you reside. The cost of a baby plan would be comparatively high in a metro city as compared to non-metro cities and towns. In India, from a hospital stay to delivery charges a pregnant woman has to spend a lot of money, though there are facilities like health insurance, etc. Many factors affect the costs in India, some of them are as follows:
The cost of conception will depend on where you live in India. The cost of treatment will be comparatively higher in metro cities than in non-metro cities and towns. This is due to the high medical facilities available in the metros, like sophisticated diagnosis tests, infertility specialists, etc. Moreover, the availability of advanced medical tools will cost you more. The cost of drug therapies and hospital stays is relatively higher in metro cities than in non-metro cities.
2. Long term planning
Every family wants to plan their baby well in advance. Long-term plans, like conception through surrogacy, adoption, etc cost a lot of money. Keeping the long-term goals in mind accounts for significant costs. This factor also includes the cost of medications like fertility drugs, etc. Planning affects the costs of the baby in a big way. To have a child’s goals, it is important to have a flexible budget.
3. Medical Facilities
The expenses of reproductive technology are very high, but the expenses of assisted reproductive technologies are even higher. All these costs vary according to the area of residence and choice of clinic. It all depends on your requirements that you can choose the best facility in the range. According to a report, it is seen that the cost of treatment varies from Rs. 20000 to 40000 in government hospitals and 10 lakhs to 20 lakhs in private hospitals.
4. Using medical procedures to conceive
Medical procedures are available for couples who are unable to conceive through conventional ways. Procedures like intrauterine insemination (IUI procedure) and in-vitro fertilization (IVF procedure) are among the most common medical procedures used today. This factor importantly affects the costs of a baby as well as the time taken to conceive.
5. The number of children you are planning for
Obviously, the cost increases with each additional child. If a couple is considering twins or triplets then it will be twice if not thrice as much as the first baby. If you are thinking of having a surrogate baby, then it might cost you somewhere around Rs. 2 lakhs to Rs. 30 lakhs. For adopting a child, the charges may vary depending on the country from which you are adopting the baby. Furthermore, the charges will also depend on which agency you are adopting the child from.
If you are planning to conceive, treatment must be started as soon as possible. For this, you need to contact your doctor for the right medication and dosage. The duration of the course matters a lot when it comes to costs. Duration affects costs because it determines the number of fertility drugs required and the duration of treatment. If you spend lesser time taking fertility drugs for treatment, the cost will be lower. However, if you spend a long time taking fertility drugs, its costs will be higher.
The Bottom Line
Therefore, planning for a baby in India can be an affordable option for parents. There are many different services that are available to help expecting parents, and the cost of each service varies depending on what is offered. By doing some research, expectant parents can find the right package that fits their needs and budget. If you want to raise your child in less amount then firstly, try to find a doctor or clinic that offers package deals. This will usually include all of the prenatal tests and scans needed during your pregnancy as well as the delivery costs. Second, look into government hospitals and clinics. They offer low-cost services without compromising on quality. Finally, consider having a home birth with the help of a midwife – this is often the cheapest option available. We hope this article has been helpful to you if you have any suggestions and queries then drop us below in the comment section.