Survey: 60% households expect dip in earning

January 31, 2023

An online platform called the Local Circles recently conducted a survey. The survey was conducted to learn about the mindset of the household consumers and also about their conditions. And it was conducted online. The online platform conducted the survey in 309 districts. According to the survey, 60% of the households in the country believe that their income is to decline in the coming days. The bottom line, citizens are facing income insecurity.

Key Findings of the survey

The households are to face 25% of the decline in their income
52% of the participants believe that global economic uncertainty is to prevail for more than six to twelve months
56% of the participants believe that their annual savings are reduce

Why are Indian citizens insecure about their income?

In the recent past, commodity prices increased globally. An increase in shipping and logistics costs is the main reason for the shoot-up in prices. Families are not able to increase their income level to the pace of the increasing inflation. Unlike Government Employees, the private sector people do not get Dearness Allowance or other relief measures to survive inflation. This has been affecting consumer spending. And thus the insecurity.

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