Around 69% of households in India suffer from financial insecurity: Survey

The survey also unveiled the Money9 Financial Security Index which is India’s first-ever state ranking of citizen financial security and also provided insights on how India earns, spends, and saves.

“The survey finds that the average income of an Indian family of 4.2 persons is ₹23,000 per month. Over 46 percent of Indian families have an income of less than ₹15,000 per month i.e.belong to the aspiring or lowest-income cohort,” it said. “Only 3 percent of Indian households have a luxury standard of living and most of them belong to higher income cohorts (High- Middle and Rich),” a…