More than half of the families are afraid of a 25% drop in income and due to this they are afraid of a decrease in savings. Due to this, these families are expecting relief in the upcoming budget. This information has been revealed in a recent online survey, which was conducted in 309 districts of the country.
This survey of local circles was conducted between 25 December to 25 January, in which it was found that the perception about loss of employment and new recruitments has turned negative. 52% of the people surveyed feel that the environment of economic uncertainty will continue for the next 6 to 12 months.
Circles claims that in this survey, 37,000 responses have been taken from families in 309 districts of the country. These families belong to Tier 1, Tier 2 and smaller towns. These include 64% males and 36% females.
According to the survey, the responses on each question have been different. On the question regarding change in income, 7% of the households admitted that they are expected to decline by 25%. On the other hand, 22% families expressed apprehension of 10 to 15% decline and 10% families expressed apprehension of a decline of up to 10%. 21% of the households surveyed felt that their income would decrease, but could not say by how much.
As per the survey, 56% households believed that their average household savings would decrease in the current financial year, while only 19% households expect savings to increase. On the question asked about economic uncertainty, 52 per cent of the 13,000 people believed that this situation could last for six to twelve months. While 23 percent are expected to remain in such an environment for 3-6 months and 6 percent for 3 months. And 19 percent people were unable to say anything about it.
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