YouGov report on Disposable Income
YouGov is an international data analytics firm. It is based in the UK. The org recently released a report on disposable income. The income that remains with the citizens after deducting taxes is called disposable income. The YouGov report says that more than one-third of urban Indian citizens claim that their disposable income has decreased.
Disposable Income in India
- In the next 12 months, urban Indians are to increase their savings. Their major expenses are around buying health insurance (26% of income), savings (33%) and investments for the future (21%). Most of them are making investments in pension-related stocks and schemes.
- Two out of five urban Indians need help managing their money
- One-third need help in using investments
- Out of the 18 markets researched, the UK has the largest decline. After the UK, it was Italy and Poland in second and third places respectively. The org works around Asia, Europe and Australia.
Reasons for the decrease in disposable income
The effects of COVID related economic crisis and the Ukraine-Russia war-related economic crisis are the two major reasons for the decrease in disposable income. Job loss is another major factor contributing to the decline. During the recession, the government revenue decreases and a deficit is created. To handle the situation Government increase taxes. Consequently, disposable income decreases.
Tags: disposable income • Recession • Revenue • Tax collection • UK
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2022 • International / World Current Affairs • Reports & Indexes Current Affairs
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