Published on 1/02/2021 9:14:04 AM | Source: IANS

Purchasing power of most Indians weakened in 2020

Posted in Budget News| #India #Union Budget

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With a massive impact of the coronavirus pandemic on businesses and people's earnings, purchasing power of most Indians weakened in the past one year.

An IANS-CVoter pre-budget survey showed that 43.7 per cent respondents said that their income remained the same while expenses went up, while the income of 28.7 per cent respondents fell same but their expenditure rose.

Around 11.5 per cent said that both their income and expenditure increased last year.

For a minute 3.1 per cent respondents, their income increased, and the expenditure went down or remained the same.

Income of the common man, both salaried and non-salaried category, was severely impacted last year due to the pandemic.

Loss of livelihood and shutting down of businesses was widespread.

Several companies and establishments across sectors took to salary cuts and retrenchments owing the pandemic and eventual lockdowns.

The government is expected to come up with steps to support the common man along with measures to cushion businesses.

Inflation remained a major concern last year for the common man, as the survey over 70 per cent people felt the impact of high commodity prices in the past one year.

The survey showed, around 38.2 per cent said that their quality of life has been "too much" adversely affected due to inflation in the past one year, and 34.9 per cent said that the there was "little bit" impact.

The sample size of the poll is 4,000 plus and the fieldwork for the survey was done in third-fourth week of January 2021. The theme of the survey is "Expectations from the Union Budget".

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