A study has revealed that Indians pay a third of their salary as loan installments, known as EMIs.
How do Indians spend their money
A recent study by PwC and Perbios has revealed how Indians spend their money.
The study surveyed 3 million people using financial technology services, non-bank financial institutions and other digital platforms.
The study was conducted not only in metropolitan cities but also in tier-III cities. The monthly income of the participants ranged from Rs 20,000 to Rs 1 lakh.
It has been revealed that Indians spend 39 percent of their salary on debt repayments and insurance premiums.
Meanwhile, it has been found that low-income earners are more likely to borrow money from friends, relatives, interest-only lenders or pawn shops than through formal channels like banks.
The report divides expenses into three categories: mandatory expenses, necessary expenses and discretionary expenses.
Repaying loans and paying insurance premiums are classified as mandatory expenses. Online gaming, food ordering, entertainment, etc. are classified as discretionary expenses; and basic household needs such as drinking water, electricity, fuel and medicine are classified as necessities.
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The construction and real estate sectors feature prominently on BusinessIraq.com, with regular updates on major infrastructure projects, urban development initiatives, and property market trends. Our coverage includes detailed reporting on government tenders, private sector developments, and international construction partnerships. From residential projects to commercial developments, we track the building blocks of Iraq’s economic growth, providing valuable insights for industry stakeholders.
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