73% homes in India under pressure as expenses outdo incomes - Report


New Delhi, Jun 11 (IANS): Around 73 per cent households in the country are facing the heat on the economic front as their expenses have increased at a greater pace than their income in the last 12 months, according to a recent survey by Local Circles.

Around 40 per cent of the people surveyed across the country were in distress as their earnings were either flat or declined while their expenses continued to rise.

Another 33 per cent said that although their income increased, it was not in proportion to the rise in expenses, according to the "Mood of the Consumer" survey by the social networking platform dedicated to citizen engagement.

On being asked about their expectations of change in their annual earnings in the next 12 months, the survey showed that around 14 per cent felt it would increase by over 15 per cent, and 30 per cent said it will increase by up to 15 per cent.

However, 38 per cent of people surveyed thought it will remain the same and 18 per cent thought it might decrease.

The survey was carried out with over 20,000 people across the country, Local Circles said.

It, however, also said that the consumer spending in India is likely to increase in the June-August period.

"For many, the months of April and May mark the time for salary increments and bonuses which they plan to use to make those pending purchases for the family. This year, the month of May also gave us the results of the Lok Sabha elections 2019, where citizens handed over another session to PM Modi through a huge mandate.

"Both these things together, have led to positive sentiments amongst consumers as well as the market, and the consumer spending is expected to be robust in the next few months," said the report.

The survey showed 51 per cent consumers did not want to purchase anything with a value of more than Rs 25,000, while 30 per cent of consumers were willing to make the purchases and 19 per cent were unsure.

"Gadgets like mobiles and laptops have been popular purchase items over the past few years and consumers have shown a tendency to upgrade them often, said the survey. With disposable incomes increasing, travel has also emerged as an area where more and more consumers have been spending.

"And with the summer vacations going on, many consumers have plans to take their kids on holidays in India and abroad," it said.

 

Comment on this article

  • El En Tea, Mumbai

    Wed, Jun 12 2019

    And we voted for second term
    Ita not our fault
    Electron Machine

    DisAgree Agree [9] Reply Report Abuse

  • geoffrey, hat hill

    Wed, Jun 12 2019

    No wonder our global happiness index ranking, as per UN survey has dropped from 118 (2015) to 140 (2019) which is way below our neighbors China, Pakistan, Bhutan, Bangladesh and Srilanka. (Businesses Today March 22, 2019)

    DisAgree Agree [9] Reply Report Abuse

  • JL, Mangaluru Smart City

    Wed, Jun 12 2019

    Modi wave has hit so badly??!!.. If this is the result of his past 5 years reign, cant even imagine of next 5 years... "God save us from coming disaster"..

    DisAgree Agree [11] Reply Report Abuse

  • Derek, Balmatta

    Wed, Jun 12 2019

    Till now the practice was to MAKE money WITHOUT paying your taxes, then go on vacation OR buy gold OR land etc

    The scene now is that you pay TAXES on what you make. All this time it was happy go lucky and you saved "tons" of money . Now when you need to pay up for what you earned., they run away and say "losses'.

    In fact those "losses' what you describe, is the tax owed by every citizen to the country. I hope the laws become more stricter (like any other country ) to one and all.

    There are two certain things in life - DEATH and TAXES.

    So we must get "USED TO IT" for development and PROSPERITY ( not only for you as an individual, but for the country too!)

    on the other side of the coin, CORRUPTION eradication should be met with the same faith.

    I hope everybody has one identity linked ( like Aadhar card) and all transactions Personal, Business, pleasure or otherwise are connected to it, so that nobody can escape the LAW!

    so learn like all other nations to 'BUDGET" you income and your expenses and everything will be alright! Learn to live within your means. In the same time, invest your money into the revenue stream and keep it in circulation, instead of hoarding it!

    DisAgree [5] Agree [4] Reply Report Abuse

  • Roger, Edmonton

    Wed, Jun 12 2019

    This is just the beginning guys..... the worst yet to come.... Indians vote without thinking.....

    DisAgree Agree [13] Reply Report Abuse

  • kavi, vittal/Dubai

    Tue, Jun 11 2019

    Apply loan. Banks must lend. Govt must write of loans. Then achhe din for people

    DisAgree Agree [6] Reply Report Abuse

  • Shekar Moily Padebettu, Udupi/India

    Tue, Jun 11 2019

    This is hundred per cent true that expenses outdo incomes of many common people like me.
    Prices of all the edible,essential commodities have been skyrocketed without any control or limit.
    Nobody is questionable.Survival of common people like me becomes so precarious and nightmare,if the trend continue like this.If the issue is not being addressed by the concerned government,authorities ASAP,middle income people might have to go for mass suicide.Such is the situation baffling now in front of common people

    DisAgree Agree [6] Reply Report Abuse

  • G R PRABHUJI, Mangalore

    Tue, Jun 11 2019

    The rates have gone up. Nobody to control that. To get things done in every field, without Corruption no body can get their work done . Everyone wants to spend more then their Income. People have forgotten simple living.

    DisAgree Agree [21] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Jun 11 2019

    The road ahead is very Difficult ...

    DisAgree [4] Agree [36] Reply Report Abuse

  • Rahul, Mangalore

    Tue, Jun 11 2019

    All because for our old Congress leaders / eaters .... Thank God we have now a guy corruption less

    DisAgree [52] Agree [5] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Jun 11 2019

    Rahul, Mangalore
    Have you heard about Demonetization, GST, Raphael & EVM ...

    DisAgree [3] Agree [42] Reply Report Abuse

  • Rita, Germany

    Tue, Jun 11 2019

    Rahul mangalore,dear Rahul you are really blind to reality.People have forgotten to live with normal food like before.They prefer more rich foods,want to celebrate like other rich ones just to show we too can ,with or without money.Tell me today how many people cook some sweet potataoe,or green jackfruit, salted mangos?haardly any.children today like more junk food than home food.sea food in big format ,and many more.Many people want to live above their normal income.want to travel with cars than buses.Today both have to work.Childrens education is a big problem with lacs of rupees as donation.who can afford it.?

    DisAgree Agree [10] Reply Report Abuse

  • CHRISTINE, Mangalore

    Tue, Jun 11 2019

    There are many like me. I thought I am only person facing this problem.

    After demonitization struggling.

    DisAgree [2] Agree [30] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Jun 11 2019

    Narendra Modi should now deliver Results ...

    DisAgree [3] Agree [30] Reply Report Abuse

  • RonRon, Udupi

    Tue, Jun 11 2019

    Vote for........... Boda Sheera!!!!!!

    DisAgree [1] Agree [25] Reply Report Abuse

  • R.Bhandarkar, Mangaluru

    Tue, Jun 11 2019

    In most homes elsewhere also where there is a man and wife staying ,
    its the sane case.
    You need not do studies ,research and all that to get this conclusion.
    The age old adage of
    " Chaape idashtu Kaalu Chaachu " has been in circulation for the same reason.
    Translation " Stretch your legs till the bed Permits " .OK ?

    DisAgree [26] Agree [2] Reply Report Abuse

  • CHRISTINE, Mangalore

    Tue, Jun 11 2019

    chape kanayerla kas bodatha maraya.

    Kande cha parod. onthe thiniyere bod. ijjida badav apundu. madyana vanas rathre kuda vanas.

    Chape bokka atha.

    Ithe dumbuda lekka athe. Eth kas ithendala yavuji..

    DisAgree [1] Agree [31] Reply Report Abuse

  • SmR, Karkala

    Tue, Jun 11 2019

    This report can't be ignored as the nation's jobless data is 45 years high since independence and GDP seems too much lesser than the projected.
    Arvind Subramanian, the former Chief Economic Advisor to Prime Minister Narendra Modi, put out a working paper on Tuesday that calls into question India’s Gross Domestic Product figures and urges a complete re-look at India’s economic statistics. The paper says that India has over-estimated GDP growth for 2011-2017 by as much as 2.5% points and that the actual numbers are much more sobering.

    To pull millions out of poverty, India’s GDP needs to grow faster than even 7%. Investments into new projects in the quarter ended Dec. 31, 2018, stood at their lowest level since Modi took charge, according to the Centre for Monitoring Indian Economy (CMIE), a think tank that tracks economic data. Farm income has slumped to a 14-year low. Foreign investors have been pulling out in the first six months of 2018, foreign portfolio outflows from India amounted to nearly Rs50,000 crore—the steepest in a decade.

    In fact, the situation was so grim that unemployment rose to a 45-year high of 6.1% in 2017-18, according to a government survey, cited by the Business Standard (paywall) newspaper recently.

    This is a huge red flag for a country expected to add over 280 million people to the job market by 2050. In fact, the country needs to create 8.1 million jobs a year to maintain its current employment rate, a World Bank report had pointed out.
    Indian voters do not vote on the basis of development or policies. No jobs. Where will be the income generate?
    JaiHind

    DisAgree [4] Agree [40] Reply Report Abuse

  • Ganesh, Bangalore

    Tue, Jun 11 2019

    To pull millions out of property you should not have teeming millions of people. By the way where has the guaranteed provision gone?.? If he can't how can ordinary mortals provide?

    DisAgree Agree Reply Report Abuse


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