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Budget 2016: ‘Economic optimism in 2015 slumped in India, corruption, jobs big worry for households’

Wed February 24 2016, 10:46 pm
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    Budget 2016: With the Budget session of Parliament having started, and FM Arun Jaitley set to present Union Budget 2016-17 on 29th February (Rail Budget is on 25th) a study has revealed that optimism about the overall state of the economy came down in 2015, with households listing unemployment, corruption and rising inflation as major areas of concern. (Image Source: Reuters)

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    Budget 2016: 69 per cent respondents felt prices for household items would go up in 2016. Household expenditure accounts for 43 per cent of the total income earned, savings and investments account for 40 per cent, while loans take up the remaining 17 per cent, the study said. (Image Source: Reuters)

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    Budget 2016: "The overall optimism in Indian households has decreased as compared to year 2014. Indians are concerned about building their financial future and have a lot of expectations from the government," Principal Retirement Advisors Managing Director Sudipto Roy said, quoting the study titled 'Principal Financial Well Being Index in India 2015'. (Image Source: Reuters)

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    Budget 2016: Except Chennai, the study revealed that majority of the respondents from 10 cities the survey covered were concerned about the health of the economy. The study was conducted along with research firm Nielsen across 11 tier-I and II cities among 1,491 respondents. (Image Source: Reuters)

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    Budget 2016: Unemployment (68 per cent), corruption (68 per cent) and rising inflation (67 per cent) continued to be top concerns for the next one year, it added. (Image Source: Reuters)

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    4. The Gross National Income (GNI) at 2011-12 prices is now estimated at Rs 112.13 trillion as against Rs 112.14 trillion estimated earlier for 2015-16. In 2014-15, it was Rs 104.28 trillion. (Reuters)

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    Budget 2016: About 43 per cent households expect their spending to increase in the next one year. The study found that positive outlook about increased salary and bonus are top reasons for increased spending expectations. (Image Source: Reuters)

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    Budget 2016: It said 63 per cent respondents were not planning a holiday next year, which is slightly more than 2014, and 71 per cent respondents felt they will either spend the same or less on festivities. (Image Source: Reuters)

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    Economic Survey 2016. The proportion of economically active population (15-59 years) has increased from 57.7 percent to 63.3 percent during the 1991-2013 period, the Economic Survey for 2015-16 said on Friday.

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