This survey exposed the country’s economic development, from average income to expenditure, insecure Indians in every way
Indian Economy: The Financial Insecurity Survey has rejected all the claims being made about India’s economic development. According to this survey, despite the strong progress towards financial security and the expansion of the financial services industry, about 69 percent of the households in the country are facing their financial insecurity and weakness.
Average income less than Rs 15,000 per month
Named ‘India’s Personal Finance Pulse’, this survey has tried to cover the points related to income, savings, investment and spending of Indian households. On the basis of this survey, the income, spending and saving patterns of the households have been understood. 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 percent of the households is less than Rs 15,000 per month. This means that these families are aspirational or low income. belong to the group.”
Three percent people have amenities
This survey report says that only three percent of the households in the country have a comfortable standard of living and most of them belong to the high income group. The survey found that around 70 per cent households make their financial savings in the form of bank deposits, insurance, post office savings and gold. Among these too, their most emphasis is on banks and post offices and life insurance and gold come after that. More than 64 per cent of Indian households’ savings are in the form of deposits in bank accounts, while only 19 per cent of households are covered by insurance.
Talked to 31,510 families from 20 states
The nationwide survey, conducted between May and September, covered 31,510 households in 20 states. During this, apart from urban areas, discussions were also held with rural families. This report has been prepared after talking to everyone. This report appears to reveal the economic development of India.
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