Income

This survey exposed the economic development of the country, from average income to expenditure, precarious Indians in every way

Photo:FREEPIK This survey revealed the economic development of the country

Indian Economy: The financial insecurity survey dismissed all claims about India’s economic development. According to this survey, despite significant progress towards financial security and the expansion of the financial services sector, about 69% of households in the country are facing financial insecurity and weakness.

Average income below Rs 15,000 per month

Dubbed India’s Personal Finance Pulse, the survey attempted to cover points related to Indian household income, savings, investment and expenditure. Based on this survey, household income, expenditure and savings patterns were captured. According to this report, “The average income of a family of 4.2 members in the country is Rs 23,000 per month. While the average income of more than 46% of households is less than Rs 15,000 per month. This means that these families are ambitious or low income. belong to the group.

Three percent of people have amenities

This survey report indicates that only three percent of households in the country have a comfortable standard of living and most of them belong to the high income group. The survey revealed that about 70% of households make their financial savings in the form of bank deposits, insurance, postal savings and gold. Of these too, they mostly emphasize banks and post offices and life insurance and gold come after that. Over 64% of Indian household savings are in the form of deposits in bank accounts, while only 19% of households are covered by insurance.

Spoke to 31,510 families from 20 states

The national survey, conducted between May and September, covered 31,510 households in 20 states. During this, in addition to urban areas, discussions were also held with rural families. This report was prepared after talking to everyone. This report seems to reveal India’s economic development.

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