As the second wave of the Covid 19 pandemic in India is on a decline, the latest data from YouGov’s Covid 19 Consumer Monitor revealed a survey report. It reveals that a majority of the urban Indians are of the opinion that the pandemic situation is getting better.
Confidence In National Recovery Improves; Survey
As per the reports, the confidence in the national recovery for the Covid 19 pandemic has increased since April end when it had fallen to 17 percent. With the lockdown restrictions and the vaccinations in full speed, the number has improved with a majority of people being positive about the recovery.
However, there are people who don’t feel the same way. The report suggests that seven in 10 people say that they are concerned about their personal finances being affected because of the pandemic hitting the country.
However, the biggest concern is its long-lasting negative impact on society.
Talking about the financial situation, two in five respondents said that it had worsened in the past three months. While nearly a third said there has been no change. One in seven (14 percent) think their financial situation has improved in this duration and the rest are not sure.
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Urban Participants Begin To Invest For Future Emergencies
The survey reports that the majority of the people have already started to invest in some financial instrument in the past three months. And only a quarter are not investing at all. The urban Indians have started to heavily invest in life insurance, fixed deposits, health insurance and mutual funds. At the same time, the pandemic has given a boost to other alternatives to investments like cryptocurrencies, E-gold and real estate.
Two in five urban Indians intend to increase their monthly investments while some plan to keep the same. However, only 18 percent plan on reducing their monthly investments. As noted by 56 percent of the participants, securing their family is the biggest reason for wanting to increase the investments. While many believe that it is good time to invest or they find it easier to invest through digital apps.
