Most people saved money as cash or cash-like liquid instruments rather than in long-term deposits or investments which offer higher return, the latest YouGov-Mint-CPR Millennial Survey shows

#MintPlainFacts by @ankita_barthwal, Satyam Shukla

https://www.livemint.com/news/india/across-indian-cities-car-house-purchase-plans-take-backseat-11608907555209.html
#MintPlainFacts | More than three-fourths of respondents said they faced financial stress since the lockdown was imposed in March to curb #covid19. Nearly half of them had difficulty in maintaining their monthly savings and investment targets.

https://www.livemint.com/news/india/across-indian-cities-car-house-purchase-plans-take-backseat-11608907555209.html
#MintPlainFacts | As many as 45% of the respondents dipped into their savings pool to meet their expenses. A third borrowed money. Respondents from families with six or more members relied more on their extended family for help in covering living expenses

https://www.livemint.com/news/india/across-indian-cities-car-house-purchase-plans-take-backseat-11608907555209.html
#MintPlainFacts | The overall monthly expenditure went up for nearly 60% of respondents. Most respondents reported an increase in their grocery bills, suggesting that the rise in food prices had eaten up a large share of household budgets this year.

https://www.livemint.com/news/india/across-indian-cities-car-house-purchase-plans-take-backseat-11608907555209.html
As some economists had anticipated, precautionary savings went up in the post-lockdown period. However, people preferred to save money as cash or in cash-like liquid instruments rather than plan for long-term investments, which offer higher returns.

https://www.livemint.com/news/india/across-indian-cities-car-house-purchase-plans-take-backseat-11608907555209.html
#MintPlainFacts | The survey data suggests limited appetite among urban Indians to spend on big-ticket items. Compared to the same period last year, fewer respondents said they intend to purchase a car or a house in the coming year.

https://www.livemint.com/news/india/across-indian-cities-car-house-purchase-plans-take-backseat-11608907555209.html
#MintPlainFacts | Will most people start spending if they get a windfall gain, in the form of tax cuts or a direct cash transfer to their accounts? The answer depends on whom you ask.

Among respondents earning less than ₹20,000, the responses were split along the middle.
Be it the economy, politics, or cricket, numbers are all around us. #MintPlainFacts helps us make sense of the patterns hidden in those numbers, using simple charts and maps.

Subscribe here: https://bit.ly/31SfaOr 
You can follow @livemint.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:
Those who think consciousness raising & movement building are disconnected, or even a distraction from electoral politics have not paid attention to the history of social change.In this thread, we
Read more
The 2020s will be known as the Remote Work decadeA few predictions of what is likely to emerge[ a thread ] Third Space: Office and Working from Home will
Read more
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I
Read more
By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.