is my CTO claiming right or wrong?

Hi, So I've working in a pre-seed stage startup for 1 year 3+months, Company is still in process to get it's next round of funding, hence my increment is still in half-backed stage. The base was increased from 20L to 30L(promised), Which was my least expected number to stay in the team. To this I retaliated with my background, skills and lesser pay for the last year. but CTO has told me that this is max (or little more) I can get in the current market. Since the last 3-4 years trend being 2+ years experienced, IIT, GSOC and with leading the backend team, even in this recession market I believe to be paid near or fully 40L base + ESOPs. Help me if you're active in the job market as seekers/recruiters, if the CTO is right here.