Nearly 37% of Indians expect decline in quality of life: survey
The survey highlights the persistent issue of food inflation, which has strained household budgets and reduced spending power. As a result, India's economy, now the fifth-largest in the world, is expected to experience its slowest growth in four years. Nearly two-thirds of respondents indicated that inflation has remained unchecked since Modi took office in 2014, with over half of participants saying that inflation has negatively affected their quality of life.
In response, Modi is expected to introduce measures in this week's national budget to address sluggish economic growth, increase disposable incomes, and ease the financial strain on the middle class. Nearly half of survey respondents reported that their personal income has remained unchanged over the past year while their expenses have risen. Moreover, two-thirds of respondents said rising expenses have become increasingly difficult to manage.
Despite India's strong economic growth, the country's job market has not kept pace with its large, youthful population, leaving many struggling to find steady employment. Last year, the government allocated nearly $24 billion to job creation schemes over five years, but these programs have yet to be implemented as discussions on their details continue to delay progress.
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