Recently, a survey named ICE360 Survey 2021 was conducted by People’s Research on India’s Consumer Economy (PRICE).
Context
Recently, a survey named ICE360 Survey 2021 was conducted by People’s Research on India’s Consumer Economy (PRICE).
Key-findings
- The household income of the rich people increased by 39% in the last five years.
- The household income of the people in the country has been increasing since 1995. However, it has decreased by 53% in the last five years.
- The COVID induced lock down halted the economic activities completely for two quarters in 2020-21. Because of this, the GDP of the country decreased by 7.3% in 2020-21.
- According to the survey, the urban poor are the most affected of all people.
- During the pandemic, the middle class people and the poor faced disasters. And the rich increased their income.
- The household income of the middle class people decreased by 2%. The household income of the lower middle class decreased by 32%.
- During the COVID times, the income of the upper middle class increased by 7%.
ICE 360 Survey
- The survey was conducted by People’s Research on India’s Consumer Economy (PRICE), a Mumbai- based think-tank.
- The survey was done between April and October 2021, covering 200,000 households in the first round and 42,000 households in the second round.
- It was spread over 120 towns and 800 villages across 100 districts.
- Key areas-
- Financial health of Indian households
- Expenditure maps
- Occupation and livelihood (how Indian households earn)
- Quality of living
- Access to public goods
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