Thanks to the Covid pandemic and the unexpected persistence of inflation, Indian households are finding it extremely difficult to manage their finances and expenses.
According to the 2022 survey, 65.7 percent of the respondents said, “Current expenses have become difficult to manage”.
Some solace for the current government comes from the fact that in the last year of the UPA government in 2014, 66.8 percent of respondents had stated that they found current expenses difficult to manage even though India was not going through a Covid-like crisis back then. This further confirms the assertion of the respondents that they find the NDA still managing the economy better than the UPA.
But that doesn’t mean that the current regime can sit back and relax as the crisis persists.
In 2020, 70.9 percent of the respondents had found expenses difficult to manage. But then the lockdowns were lifted and the first wave ebbed, resulting in 58.9 percent of the respondents deeply worried about managing expenses. But then the second and even more devastating wave stuck, once again increasing the anxieties of families.
The telling hint about the crisis came from answers to another question where 57.4 percent respondents said their incomes had gone down while expenses had gone up. The figure was 28.7 percent in 2020. Clearly, the Budget needs to address these concerns of citizens on an urgent basis.
(This story has been sourced from a third-party syndicated feed, agencies. Raavi Media accepts no responsibility or liability for the dependability, trustworthiness, reliability, and data of the text. Raavi Media management/ythisnews.com reserves the sole right to alter, delete or remove (without notice) the content at its absolute discretion for any reason whatsoever.)
