Indian Workforce: India’s working class is drowning in more debt than before. The number of loan takers has increased further in the last two years. According to a survey report, most of the working people have a loan of up to Rs 25 lakh. This figure has also increased compared to last year. The number of people living without debt in metro cities has remained very low. Most of the debt owed by working women is due to home loan.
Only 13.4 percent people are living without debt
According to the survey of BankBazaar, only 13.4 percent of working people are living without debt. In the year 2022, this figure was 19 percent. The survey has revealed that in the last two years, many working people have taken some kind of loan or the other. Employed people have taken maximum loans up to Rs 25 lakh. The number of people taking such loans has now reached 91.2 percent. Till last year this figure was 88 percent. In this survey, questions were asked to 1,529 people aged 22 to 45 years. People from 6 metro cities and 18 tier 2 cities were included in this survey. Of these, 40 percent were women. The salary of all of them was at least Rs 30 thousand.
Apart from home and car, they are also spending on international travel.
According to the survey, financial products like loans and credit cards are mostly used by working people. They have good knowledge of digital transactions. They also do online shopping. According to the survey, the youth aged 22 to 27 years present in the workforce have good knowledge of technology. They also want to know about new financial tools. After this come people aged 28 to 34, who have worked for a few years. Apart from buying a house and car, they are also doing international travel. The third group is 35 to 45 years old, which is more financially strong.
Taking different types of loans in different corners
According to the survey, buying a house is the number one priority among the Indian workforce. After this he wants to spend money on his health, relationships, fame and progress. Employed people do not think about travel and retirement that early. The desire to do their own employment has also increased among the youth. He wants to start his own startup. Women are ahead in this matter. People working in East India want to take education loan, car loan in South India and home loan in North and West India.
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