Earlier quoted context omitted.
Think about it. You expect to hire people making less right now, because most people won't take a pay cut if they aren't forced to. But if you are paying $200K, then presumably you will not hire anyone who is now making $100K, $50K, or $5K. So you're restricted to a fairly narrow band. Where is your "glass ceiling", the minimum someone has to be making for you to take them seriously?
How much someone is making now is not part of the analysis on if they would be a good hire. I wouldn't even ask this within the process.
If, hypothetically, you knew what they were making, either as a dollar figure or implicitly because of their previous/current job description, what would be the minimum?
I'm asking something which necessarily has an answer, even if you won't answer it.
I'm asking about the limits to your imagination - where is the boundary between a plausible hire and and one that is not? Both in numeric terms and all the stuff associated with it.
When I wrote $5K, that was a serious possibility - think of it as 4 lakh rupees per annum.
You don't seriously go through the same analysis for everybody. Nobody does. Maybe you won't share exactly when you jettison the analysis, but the important thing is to realize this is where the problem lies, and questioning the implicit rules related to shortcutting your process.