- Home is the first priority for north Indians, car loans are the highest in the south
An interesting trend has emerged in the country regarding the purpose of taking loans from banks. This year, North India has the highest 43% of loans taken for buying or building a house. People in South India are taking a maximum of 38 percent of loans to buy a car or two-wheeler, while eastern states are taking maximum 32 percent of loans to spend on education, while western states are taking maximum 24 percent of loans for medical needs, according to Bankbazar. According to “Aspiration Index 2024” of com.
Apart from this, the number of Indians preferring luxury weddings is increasing rapidly. In the last one-two years alone, the number of people spending on luxury weddings in the country has seen an average double growth. A recently released report also said that more and more people are spending on marriage. In the upcoming marriage season, more than 40 lakh weddings will be held across the country, which will incur huge expenses. However, its direct benefit will also be available to the economy.
Inflation is the biggest problem for 52% people High inflation and high tax rates have become the country's biggest problems. 52% of those surveyed said rising inflation was their biggest problem. For 48% of people, family responsibilities are so great that they cannot spend enough on their favorite things. 45% said limited savings prevent them from spending as they wish. On the other hand, 40% said that excessive tax deductions are forcing them to change their priorities. In the upcoming marriage season, more than 40 lakh weddings will be held across the country, which will incur huge expenses. It can also affect it.
Early retirement included in top-5 goals 31.4% of those surveyed said retiring early was among their top-5 priorities. Last year such people were 28%. This year the number of those who increased their superannuation fund increased to 58% and increased their superannuation fund. In 2023, 56% of people's retirement funds were increased. However, women (59%) are more concerned about retirement planning than men (57%).
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
