Of Inheritances and Entitlements

Entitlement – this mentality drives many Indians. The familial hierarchy in the Indian society has always been parochial, a driving force behind the encouragement of the attitude amongst the nation’s youngsters. The aspect of inheritance and property is a major factor that propels many individuals, even today, marring to a larger extent, the nation’s overall global credibility. 

India might have come a long way with respect to its urban and rural culture. But fact remains that even in the deepest parts of the urban areas and in the remotest corner of the rural areas, people still do everything within their means – by hook or by crook – to grab their hands on the family wealth. The laws in India are also framed keeping in mind these stipulations so that at any point of time, if an individual wants to, he is able to claim his share on the family property.

The upside of such a law is that there are no possibilities of any problems arising at a given later date. It’s all transparent and above board, giving the individuals the legal means to claim their right, so to speak. 

The downsides, in contrast, are many in comparison. People are inadvertently taught to be dependent and carefree, without any intention to contribute to one’s growth financially. This ultimately leads to a serious dent in people’s capabilities and potential. Additionally, the lack of motivation to contribute productively acts as an unwanted crutch in the whole scheme of an individual’s affairs. And then there is the most crucial, macro-economical aspect of monetary value of money. 

Monetary value refers to the actual worth of money that an individual earns. It doesn’t matter whether the individual earns a million bucks or a billion, what matters is what he is able to procure and accumulate for himself with those million or billion notes. 

In the real world, the monetary value of money never appreciates, but perpetually depreciates. And since one’s standard of living is calculated by the ‘monetary value’, people banking on inheritances can never hope to enjoy higher standards of living forever – unless they add to their inheritance and cumulate the funds. This once again makes us revert back to the point of inheritances being unnecessary crutches that can be shrugged off at any time. 

Having inherited a huge sum of money is not enough and will never be. Money in the hands of foolish individuals is like setting loose a horde of rampaging rhinos on the streets. Along with provision of money, there needs to be supplementary education– both theoretical and practical – so as to enable the individual to think and act fruitfully. 

In case of India, the problem lies in the lack of a good education system and values. An education system, that precedes familial insularity allowing the individuals to think for themselves instead of banking upon the family’s resources as the first and the foremost resource.