According to a study, 80% of the working Indians have experienced an income loss, while 92% are expecting a harder economic crisis. This is according to a study conducted by Generali during the COVID-19 crisis on consumer sentiments. Also according to this study, the self-employed individuals are expecting to lose more than half of their income in the upcoming months.
Generali is a global insurance and asset management company. It has conducted this study in 22 countries. This study has been done by Generali with the help of another global market research firm Epiphany.
In a press release, it was said that there are fear and anxiety among employed individuals and most of them are uncertain about their futures. Almost every one of them is careful about their families and are worried about the economic losses.
Thi study also said that half of the Indian employees are currently working from home and are expecting to continue this further for the next few months. Also, 95% of the surveyed individuals expect relief in case of any income losses. This can be either from their savings or from the government. 53% of the individuals who have faced income losses are expecting help from the government. 60% of the individuals are looking at their savings for help while 39% are expecting any kind of help from their family members.
Also, 40% of the employed individuals expect help from their respective employers in this economic crisis. The survey also says that 30% of the surveyed population considers this corona crisis as a severe national challenge and also expects it to further become more severe in the upcoming months. Four out of every 10 individuals are cautious about their mental, social, and financial situation in this crisis. Most of the people in urban families are being careful about their physical health, according to this study