Inflation: Inflation eroding savings of Indians living in metros: Survey


Soaring inflation, high fuel cost, rising cost of education and health insurance premiums have eroded the real incomes of middle-class Indians. Household savings rates dropped by a staggering 40% in the past three years, says an Assocham survey.

The survey found that net financial savings by Indians, which include deposits with banks and non-banking finance companies, cash, investment in stocks, debentures and small savings instruments, have dipped considerably because of rise in household expenditure.
As many as 82% respondents said that the salary hike last year was not in sync with the cost of living which has gone up by almost 40%-45%. Besides, 82% respondents from metros said that their standard of living has declined by at least 25%.

The survey was conducted over three months in 2013 (January to March) in Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun.

User

Provident Fund: EPFO to pay at least 8.5% interest this fiscal

The Employees’ Provident Fund Organisation (EPFO) will pay at least 8.5% interest on PF deposits for 2013-14 to its more than 50 million subscribers like in the previous fiscal. The decision in this regard could be taken as early as December 2013. EPFO had provided 8.5% interest rate for 2012-13, up from 8.25% in 2011-12

User

Health Insurance: Oriental Happy Family Floater

Many customers are unhappy with premium calculation for the Oriental insurance Happy Family...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)