66 percent of Jammu Kashmir residents Struggling with expenses amid declining income: Survey

August 25, 2024 by News Desk

A recent survey by the India Today Group, conducted in August 2024, has unveiled troubling financial conditions among residents of Jammu Kashmir.

According to the “Mood of the Nation” survey, a substantial 66% of J-K residents find it increasingly difficult to manage their expenses compared to the previous year. This rise in financial pressure is linked to broader economic challenges in the region.

The survey highlights that 38% of respondents have experienced a decline in their income over the past year, accompanied by rising expenses. This combination of lower income and higher costs points to significant financial stress for many households in J-K.

The survey also identifies unemployment as a major concern, with 47% of respondents viewing it as the most critical issue. This reflects widespread anxiety over job scarcity, particularly among educated youth.

Additionally, 17% of respondents cited inflation and rising prices as a significant concern, although analysts believe this may not fully capture the economic strain faced by many.

In terms of income and expenditure patterns, 30% of respondents noted that while their income remained unchanged, their expenses have increased.

Only 13% reported simultaneous increases in both income and expenditure, indicating that only a small segment of the population is seeing financial improvements.

On the other hand, 20% of respondents find their increased expenses manageable, suggesting some level of financial resilience.

Meanwhile, just 5% of respondents reported a decrease in their expenses, potentially due to careful budgeting or positive economic changes.

Development concerns are less prominent, with only 11% of respondents considering it the most important issue.