Covid 19: 65 Percent Income Decrease in India, 16 Percent People Lost Income Completely

0
4


Business Desk, Amar Ujala, New Delhi

Updated Thu, 01 Oct 2020 01:01 AM IST

Decreased earnings during the Corona period
– Photo: pixabay

Read Amar Ujala e-paper
anywhere anytime.

*Yearly subscription for just ₹299 Limited Period Offer. HURRY UP!

Listen to the news

The Kovid-19 epidemic has affected the income of 65 per cent of the people in the country, while 16 per cent of the earnings have been completely lost. This has been revealed in Paisabazaar’s survey. According to this, 70 percent of the people in Delhi-NCR have been affected, while 16 percent of the earnings have been completely lost. 67 per cent of the people of Bangalore believed that their earnings had declined due to the epidemic, while 12 per cent had lost their income completely. This figure is 63 percent and 20 percent respectively in Hyderabad, 63 percent and 26 percent respectively in Mumbai and 52 percent and 9 percent respectively in Chennai. The survey is based on interaction with 8,616 people from 37 cities, who have a debt of over one lakh rupees.

Able to repay EMI on income affected
Number of city people
Chennai 66 Percent
Hyderabad 55 percent
Delhi-NCR 53%
Bangalore 49 percent
Mumbai 48 percent

56 percent chose Moratorium
According to the survey, 56 percent of the respondents opted for the Moratorium to pay the loan / credit card bill. Of these 23 per cent people are those whose lockdown has no effect on their income. 53% opted for this option in case of employed, while 68% of self-employed people availed this facility. At the same time, 44 percent of the respondents did not take advantage of the Moratorium. Of these 22 per cent are those whose earnings were completely lost due to lockdown.

Want more than half of debt restructuring
55% of the respondents in the survey said that they wanted to approach their bank / NBFC for loan restructuring. There are also people who have not had any effect on their earnings. Of those who have already taken advantage of the Moratorium, 70 per cent want to restructure their debt.

It will take time to reach the level before Corona
Naveen Kukreja, CEO and co-founder of Paisabazaar, says that the Corona effect had started showing in the country since March. However, in the last few months, many areas have started showing improvement. Despite this, it will take a long time to reach the position before Corona. He said, if the economy continues to improve and people’s earnings increase, it may take 7-9 months to reach the pre-corona level of debt supply.

abstract

  • Survey revealed by Paisabazaar, 16 percent of people income completely stalled
  • 16 percent of the people came to a complete standstill

Detailed

The Kovid-19 epidemic has affected the income of 65 per cent of the people in the country, while 16 per cent of the earnings have been completely lost. This has been revealed in Paisabazaar’s survey. According to this, 70 per cent of the people in Delhi-NCR have been affected, while 16 per cent have been completely lost. 67 per cent of the people of Bangalore believed that their earnings had declined due to the epidemic, while 12 per cent had lost their income completely. This figure is 63 percent and 20 percent respectively in Hyderabad, 63 percent and 26 percent respectively in Mumbai and 52 percent and 9 percent respectively in Chennai. The survey is based on interactions with 8,616 people from 37 cities, who have a debt of over one lakh rupees.

Able to repay EMI on income affected

66% of city people Chennai
Hyderabad 55 percent
Delhi-NCR 53%
Bangalore 49 percent
Mumbai 48 percent

56 percent chose Moratorium
According to the survey, 56 percent of the respondents opted for the Moratorium to pay the loan / credit card bill. Of these 23 per cent people are those whose lockdown has no effect on their income. 53% opted for this option in case of employed, while 68% of self-employed people availed this facility. At the same time, 44 percent of the respondents did not avail of the Moratorium. Of these 22 per cent are those whose earnings were completely lost due to lockdown.

Want more than half of debt restructuring
55 per cent of the respondents in the survey said that they wanted to approach their bank / NBFC for loan restructuring. There are also people who have not had any effect on their earnings. Of those who have already taken advantage of the Moratorium, 70 per cent want to restructure their debt.

It will take time to reach the level before Corona
Naveen Kukreja, CEO and co-founder of Paisabazaar, says that the Corona effect had started showing in the country since March. However, in the last few months, many areas have started showing improvement. Despite this, it will take a long time to reach the position before Corona. He said, if the economy continues to improve and people’s earnings increase, it may take 7-9 months to reach the pre-corona level of debt supply.

LEAVE A REPLY

Please enter your comment!
Please enter your name here