Business

Covid impact: Consumers uncertain, see income drop, erosion in savings

The second wave of Covid pandemic in India has elevated the extent of uncertainty for households. Lockdown in a number of components of the nation in April and Might, rising gas prices and inflation have all had a detrimental influence on incomes and spending.

Based on a ‘Mood of the Consumer 2021’ survey performed by LocalCircles, a group engagement discussion board, 47% of the respondents now count on uncertainty with respect to family price range planning to final six to 12 months, 79% see a decline in earnings and 49% imagine their savings will fall this yr. Excerpts from the survey…

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ABOUT THE SURVEY:
Mode: On-line
Whole responses: 38,632 (35% respondents have been girls)
Protection: 382 districts, together with rural areas

https://economictimes.indiatimes.com/information/economic system/finance/covid-impact-consumers-uncertain-see-income-drop-erosion-in-savings/articleshow/84462101.cms

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