Family Wealth Of The Families In Karnataka Is Most In The Country And Indians Still Prefer Bank Savings And Gold

Wealth in India: Indians' love for gold is increasing. Also, he currently considers the money kept in the bank as the safest. Interesting figures have emerged in a survey conducted regarding the income, expenditure, lifestyle, savings, investment and future plans of families in the country. In this survey, families of Karnataka turned out to be the most prosperous in the country. He has also left behind the families of Maharashtra. However, two-thirds of Indians still earn less than Rs 35 thousand every month. However, rising medical expenses are taking a heavy toll on families across the country. Also, most of the families are living in fear of losing their jobs.

New investment options are not attracting Indians

According to PTI, new investment options have not yet attracted Indians. He views gold and money deposited in banks as safe investments. About 77 percent of Indians prefer to keep their earnings in banks. Also, 21 percent people prefer to invest in gold. However, interest towards insurance and share market has increased among Indian families. Still their numbers are still less.

Karnataka left Maharashtra behind

According to the report, Karnataka's families have left Maharashtra behind in terms of average monthly income. This year, the average monthly income per family in Karnataka was Rs 35,411.

The income of two-thirds of Indians is still below Rs 35,000.

The survey revealed that after the Covid pandemic, migrant workers have returned to cities. Due to this, the average monthly income of urban families increased by 12 percent to Rs 25,910 in 2023. But, still 77 percent of Indians earn less than Rs 35,000 per month. Only 30 percent of the families said that their financial condition has improved in the last 5 years.

Highest gold saving happens in these cities

53 percent of the families still do not have health insurance. The number of people investing money in share market and mutual funds has also increased. Gold saving is highest in Bengaluru and Thiruvananthapuram. Madurai families have the highest number of insurance coverage in India.

Families are burdened with heavy medical expenses

According to the survey, this year about 22 percent of Indians have lost their life savings due to sudden serious illness. Also, 56 percent of the families are living under the fear of losing their jobs. 3 percent of the families in the country are planning to buy a two-wheeler or car in the next 6 months. Also 10 percent want to buy a smartphone.

Survey conducted in 35 thousand houses in 20 states

The survey covered more than 35,000 households spread over 1,170 locations and 115 districts in 20 states. This survey was conducted in collaboration with Research Triangle Institute (RTI) International.

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