With Russian invasion of Ukraine, what does the Urban India think about the economy, household expenses and other aspects?
Majority of the Urban Indians are worried and 64 per cent feel that the ongoing unrest in Ukraine may have an impact on India’s economy leading to an increase in fuel prices. Moreover, almost the same number (63 per cent) think it will increase the price of essential commodities.
WHAT ABOUT TRANSPORT?
The YouGoy, that has detailed about the impact in its latest survey notes that 36 per cent of the respondents said they might consider taking public transportation instead of using their own vehicles if there is a further increase in fuel price. The survey found that 42 per cent of GenX was more likely to take this step than millennials (33 per cent) and Gen Z (36 per cent).
It showed that 11per cent of the people surveyed want to switch/buy an EV vehicle. It also noted that ten per cent wanted to use two-wheelers instead of cars.
HOUSEHOLD FINANCES
Most urban Indians think a rise in the inflation rate will impact their household finances and they will either have to reduce their discretionary expenses (49%), rely on their saving (18%) or take debt (9%) to cover their expenses. While residents of West and North India are more likely to say that they will cut back on their discretionary expenses, those in South India are most likely than others to tap their savings or take out a loan to cover their expenses.
STAND FOR UKRAINE
Four in five (43%) want India to maintain a neutral stand in the Russia-Ukraine dispute. Almost as many (38%), however, want the government to offer humanitarian aid and support to Ukraine. Only a few (4%) think India should refrain from providing any assistance. While Indians have a mixed view about offering help, a vast majority (63%) of urban Indians support India’s abstention from UN General Assembly’s vote against Russian aggression.
