New Delhi. The financial situation of Indian families has become fragile since the Corona period. This has happened due to slowing of the Indian economy, due to pay cuts, layoffs and large part of salary in variable pay. According to the survey conducted by Wealth Management Company Economy, 71 per cent of the job seekers are cash strapped. Due to increasing unemployment, the cash crisis is increasing rapidly in the people. Along with this, the trust of consumers is also getting weaker. Due to this people are facing huge cash crisis.
Emergency Fund and No Deposit
According to the survey, those earning 1.5 million annually have a 60 to 70 per cent decline in cash. This is because most people do not have emergency funds and cash deposits. The situation may worsen in the coming days due to unemployment. After the Corona crisis, the person earning Rs 15 lakh a year has lost 60 to 70 per cent in cash. With this, there has been a rapid increase in debt.
Decide not to travel –
60% of people have decided not to travel. This has been done due to deepening financial uncertainty, creating a cash crisis and declining income. Many people have also postponed the decision to travel and send children to study abroad. 50 to 55 percent of people postponed the decision to buy a car for 24 to 36 months. Many people, after losing their jobs, are leaving the metros and moving towards their home or small cities.
The decision to buy a house was postponed.
According to the survey, 45 percent people have decided not to buy a house for 36 to 60 months. People facing financial crisis due to Corona have decided to postpone their car, home like big dreams for 24 to 60 months. This has been done due to deepening uncertainty, creating a cash crisis and declining income.
Source: Patrika : India's Leading Hindi News Portal by www.patrika.com.
*The article has been translated based on the content of Patrika : India's Leading Hindi News Portal by www.patrika.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!