60 percent of Indians seek help from the budget 2023: Survey

The online platform LocalCircles survey revealed that more than half of households in 309 districts estimate a 25% drop in income and savings and are seek help from the budget.

52 percent of respondents to the November 25–January 25 study believe economic uncertainty will last 6–12 months due to job losses and low hiring mood.

Survey included 37,000 replies from home customers in 309 Indian districts, with 64% men and 36% women from tier 1, tier 2, and smaller towns.

“Our poll suggests that most households in the country are suffering the pressure and in community conversations, LocalCircles received thousands of ideas about lowering income tax rates or expanding deductions and exemptions,” said LocalCircles founder Sachin Taparia.

7 percent of households estimated a 25 percent reduction in yearly income during the current fiscal, 22 percent a 10-15 percent drop, 10 percent a drop of up to 10 percent, and 21 percent unsure.

56 percent of households surveyed expect their average household savings to decrease this fiscal year, while 19 percent predict an increase.

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