7% of Indian families do not earn enough to meet expenses

India has become the fifth largest economy in the world, the size of the economy has reached close to 4 trillion dollars. But despite these achievements, there is a large section of Indian families whose monthly earnings do not even meet the monthly household expenses. According to Money9’s personal finance survey, 7 percent of the families in the country are such whose monthly earnings do not even meet their household expenses. This survey was conducted in 115 districts of 20 states of the country during August to November.

According to the survey, Bihar is the poorest among all the states of the country, where the average monthly income of families is only Rs 17,567. Odisha is at second place in poverty with a monthly income of Rs 18,519 and Jharkhand is at third place with a monthly income of Rs 18,863. Most of the families who are unable to meet their monthly expenses are residents of these states.

However, according to the survey of Money 9, there has been some improvement in the monthly earning situation of families this year as compared to last year. Last year, the average monthly income of families in Bihar was only Rs 14,366 and the average monthly income of families in Jharkhand was Rs 15,804. This survey of Money9 has been done in cities and people of Corona have returned to work in cities, due to which there has been an increase in the average monthly earnings of families.

The survey also revealed that the economic condition of 30 percent of Indians has improved during the last 5 years, while 54 percent of Indian families believe that their financial condition is the same as it was 5 years ago. However, there are 16 percent families whose economic condition has deteriorated in the last 5 years.