Every One In Four Indians Surveyed Concerned About Threat Of Job Layoff: Survey

New Delhi

Every one in four Indians is concerned about the threat of job layoff while three out of four are worried about rising inflation yet half of them believe that the country's economy will grow in 2023, according to a survey by marketing data and analytics firm Kantar.

In its second edition of India Union Budget survey, Kantar found that consumers expect an announcement in policy changes with respect to income tax, with increasing basic income tax exemption limit from current Rs 2.5 lakh being the most common expectation.

 At a macroeconomic level, most have a positive outlook — 50 per cent believe that the Indian economy will grow in 2023 as against 31 per cent, who feel there will be a slowdown. Non-metros at 54 percent are more optimistic as compared to metros,  Kantar said.

However, it said the global economic slowdown and a potential resurgence of COVID-19 are key areas of worry for Indians.

 Three out of four people are worried about the rising inflation and want the government to introduce decisive measures to tackle the same,  it added.

Further, Kantar said,  Everyone in four Indians is also concerned about the threat of job layoff. This is relatively higher in the affluent, older 36-55 year-olds and salaried classes.  In terms of expectations from the upcoming Budget, the survey found that consumers expect an announcement in policy changes with respect to income tax.

 Increasing basic income tax exemption limit is the most common expectation among consumers followed by the increase in the threshold limit of highest tax slab rate of 30 percent.