‘Saare Jahaan Se Mehnga’ is about a lower-middle-class family in rural India comes up with an innovative plan to tackle inflation, which, in a way, involves scamming the government! This satire on inflation revolves around a family of four, Puttan Pal ( Sanjay Mishra), his wife Noori ( Pragati Pandey), younger brother Gopal (Ranjan Chhabra) and father ( Vishwa Mohan Badola).

The family struggles to make ends meet with just one earning member, Noori, who runs a beauty parlour but that isn't sufficient. Thus, they come up with a plan that ensures them immunity from growing prices for the next three years. The family decides to get a loan of one lakh rupees in Gopal's name with the excuse that he wants to set up a shop. The loan is granted under a government scheme with the condition that it's cleared within three years.

The idea is to stock up ration worth a lakh which will last for three years, thus dodging inflation in the process. Money saved will be used to clear the loan. The plan works fine until a loan inspector ( Zakir Hussain) suspects foul play!