Something like Time value of money concept. The cost of goods during the era of Gavaskar were not that much and 50 rupees might have been enough. I have heard stories from my grandparents that they used to get the things we got now in so less cost. Still i find it tough to believe. What i mean though is that the salary of today's cricketers are definitely not proportionate to that of the previous era. IMO if we calculate it might be many many times higher even considering the Time value of money. We don't even need to compare the earning per day at IPL match. BCCI indeed have offered some money to Indian ex cricketers.
http://www.espncricinfo.com/india/conte ... 64579.html"It was time we got something like this as expenses have been mounting with the price rise and medical expenses too going up," Nadkarni said. "We are living on what we had saved from our jobs which, you are aware, were not high-paying in those days."
Indian cricketers contract 2012:
Grade A: Rs 1 crore each (approx $186,000) Sachin Tendulkar, Mahendra Singh Dhoni, Zaheer Khan, Virender Sehwag, Gautam Gambhir, Suresh Raina, Yuvraj Singh, Virat Kohli, R Ashwin
Grade B: Rs 50 lakh each (approx $93,000) Harbhajan Singh, Ishant Sharma, Pragyan Ojha, Rohit Sharma, Cheteshwar Pujara, Ajinkya Rahane, Irfan Pathan, Umesh Yadav
Grade C: Rs 25 lakh each (around $46,500) Ravindra Jadeja, Amit Mishra, R Vinay Kumar, Munaf Patel, Abhimanyu Mithun, Murali Vijay, Shikhar Dhawan, Wriddhiman Saha, Parthiv Patel, Manoj Tiwary, S Badrinath, Piyush Chawla, Dinesh Karthik, Rahul Sharma, Varun Aaron, Abhinav Mukund, Ashok Dinda, Yusuf Pathan, Praveen Kumar, L Balaj
Test FL's - 8 , ODI and Tests Combo FL's - 1, ODI World Cup - 1, ODI FL's - 7, ODI and T20i combo FL's - 1 ,
T20 Franchisee FL's - 7, T20i Cup FL's- 1, T20 FL's- 5 , 50 Overs Domestic FL's - 1, 40 Overs Domestic FL's- 1