Page 60 - IMDR EBOOK 20 OCT 2020

"Pandemic and Beyond: Naviga ng the New Normal" E - Book Year 2020

resulting in lesser ow of money in the economy. Also with lockdown being imposed & followed,
many expenditure heads have automatically been cut down, like fuel consumption, eating out,
Socializing.
While government is trying to boost liquidity & improve morale of public related to their nances
in general, by measures like cutting down repo rates, quicker tax refunds, contribution by Govt
to Provident Funds, common man still fears, what is yet to come. As Warren Buffett famously
said about Spending “If you buy things you do not need, soon you will have to sell things you
need” & about saving “Do not save what is left after spending, but spend what is left after saving”,
people in India are also shifting the avenues & the size of their expenses as well as savings. How
will it impact the personal nance, as well as economy, is something only time can tell.
Objectives of the Study
1. To study the present & expected changes in individual’s income on account of Covid 19
impact in India.
2. To analyse the changes in spending pattern in general & on dened avenues, Pre-& Post
Covid 19 impact in India.
3. To analyse the changes in saving pattern & preferred saving modes, Pre-& Post Covid 19
impact in India.

4. To study the respondents’ expectation about continuity of Spending & Saving patterns.
5. To suggest various nancial planning strategies to Indian individual, in post pandemic
era.

Research Methodology
“A study of changes in Individual Income, Spending & Saving behavior as a result of Covid 19
situation in India” is a research performed on the basis of primary & secondary data. The primary
data has been collected through online structured questionnaire containing 16 questions
related to demography & nancial behavior of the respondent.

Researcher has attempted to study the changes in Income, spending & saving pattern of
individuals from different states of India. The secondary data has been collected through study of
various news articles as well as results of survey conducted by business consultancy rms. To
analyse the primary database, researcher has used tools such as Pie-Charts, Bar charts etc.

Data Analysis
The researcher was able to collect data from 116 respondents. For the purpose of analysis, the
data from the survey has been divided into 4 sections of Demographics, Income, Expenditure &
Savings & analysed.
Demographics:

56