A sneak peek at India's crorepati culture

New Delhi: Indian's Gen Next is not aiming for anything below Rs 1 crore. Take a look at India's crorepati culture:

• Mukesh Ambani makes Rs 1 crore every three seconds
• King Khan got Rs 1 crore for making a tiny appearance at a corporate function last year
• Mallika Sherawat gets Rs 1 crore for performing an item number
• Mahendra Singh Dhoni shall get Rs 6 crore for playing in the IPL league

The eight digit number looks rather naive at first glance — one single digit leading a train of seven zeroes — but in India, owning Rs 1 crore or more has literally put the whole country in a rat race. The entire country is lining up to become a crorepati.

But over the years the charm of Rs 1 crore has faded and even Kaun Banega Crorepati now offers twice as much.

Traditionally, a crore signified a lifetime of hard work and planned investment. But with the corporatisation of Indian society in the last few years, aided by a boom in the stock market, an entire generation of instant lakhpatis (millionaires) and overnight crorepatis (billionaires) have been fuelled.

CEO Investshoppe, Ashish Kapoor says, "These days, Rs 1 crore is just the stepping stone. People who have invested a few lakh of rupees in the stock markets have now become crorepatis."

Today, corporatised film studios are signing mutli-crore deals with film stars. Director Anees Bazmi, who earned Rs 8 crore for his last film, says that big money is what gets one respect — be it in Bollywood or elsewhere.

"It's unfortunate that the film industry gives you importance only when you charge mega bucks. Now that I make a certain amount of money, actors and industry people take me more seriously," says he.

Crores are what artists like M F Husian get for a single painting. In 2004, Husain agreed to paint 125 paintings for what he called was due price for his work — Rs 1 crore per canvas.

But should anyone be complaining? Surely not the state.

The crorepatis, old and young, contribute to the Government coffers through the taxes they pay. Even the man who became the first crorepati in Kaun Banega Crorepati took only Rs 55 lakh home. The Income Tax department pocketed the rest.