Around 69 per cent of households in India struggle with financial insecurity and vulnerability and the average income of families is Rs 23,000 per month, according to a recent survey.
The survey by Money9 provided insights into how India earns, spends and saves in the country’s first-ever state ranking of citizen financial security.
India’s Personal Finance Pulse maps Indian households’ income, savings, investment and spending, said a statement issued by Money9, promoted by TV9 Network. “The survey finds that the average income of an Indian family of 4.2 persons is Rs 23,000 per month. Over 46 per cent of Indian families have an income of less than Rs 15,000 per month i.e.belong to the aspiring or lowest-income cohort,” the Money9 Financial Security Index survey stated. “Only 3 per cent of Indian households have a luxury standard of living and most of them belong to higher income cohorts (High- Middle and Rich).”
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