Skip to main content

60% Households Expect Dip In Earnings, Seek Relief In Budget: Report

More than half of households in a survey conducted online across 309 districts expect a decline in their income by up to 25 per cent and dip in savings, and are looking for relief in the coming budget, online platform LocalCircles said on Sunday.

The survey, conducted between November 25 and January 25, found that with job losses and hiring sentiment turning negative, 52 per cent respondents feel that the economic uncertainty will persist for the next 6-12 months.

LocalCircles claimed that 37,000 responses were received from household consumers across 309 districts of India, comprising 64 per cent men, 36 per cent women from tier 1, tier 2 and smaller towns as well.

"Our survey indicates that majority households in the country are facing the squeeze and in community discussions thousands of inputs were received by LocalCircles about lowering income tax rates or increasing deductions and exemptions," LocalCircles founder Sachin Taparia said.

The number of responses on each question varied.

In response to questions on expected change in income, 7 per cent households projected a 25 per cent drop in annual income during the current fiscal, 22 per cent projected a 10-15 per cent drop, 10 per cent projected a drop of up to 10 per cent and 21 per cent felt their income will reduce but they were uncertain about the scale.

Fifty-six per cent household consumers surveyed believe their average household savings will reduce during the current fiscal while only 19 per cent households expect an increase, according to the survey.

In response to questions around economic uncertainty, 52 per cent out of over 13,000 respondents expressed that they expect economic uncertainty to last 6-12 months while 23 per cent expected the uncertainty to last 3-6 months in 2023,  6 per cent felt uncertainty may last up to 3 months while 19 per cent were not sure about it.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



source https://www.ndtv.com/business/sixty-per-cent-households-expect-dip-in-earning-seek-relief-in-budget-survey-3734084
Labels:

Comments

Post a Comment

Popular posts from this blog

Beyond The Bronze Age: Exploring The Dawn Of The Crypto Era

Humanity has witnessed enormous technical advancements throughout history that have moved society ahead in remarkable ways. Each epoch, from the invention of agriculture through the Industrial Revolution, has offered new advances that have shaped the history of civilization. You are now standing at the dawn of the Crypto Era, on the verge of yet another transformational era. The bull run then and now But now, the term bull run or bull market is used to describe a situation in which the price of assets or securities, such as cryptocurrency or stocks, rapidly rises. A crypto bull run is similar to what happens in traditional markets. It often denotes the optimistic hopes of investors seeking to profit from the asset's price appreciation, with the goal of generating big returns on their initial investment. During a bull run, there is a general sense of optimism in the market and an expectation of big gains. In the context of the financial markets, the term bull run is metaphorical
Post a Comment
Read more

Beyond The Bronze Age: Exploring The Dawn Of The Crypto Era

Humanity has witnessed enormous technical advancements throughout history that have moved society ahead in remarkable ways. Each epoch, from the invention of agriculture through the Industrial Revolution, has offered new advances that have shaped the history of civilization. You are now standing at the dawn of the Crypto Era, on the verge of yet another transformational era. The bull run then and now But now, the term bull run or bull market is used to describe a situation in which the price of assets or securities, such as cryptocurrency or stocks, rapidly rises. A crypto bull run is similar to what happens in traditional markets. It often denotes the optimistic hopes of investors seeking to profit from the asset's price appreciation, with the goal of generating big returns on their initial investment. During a bull run, there is a general sense of optimism in the market and an expectation of big gains. In the context of the financial markets, the term bull run is metaphorical
Post a Comment
Read more