Ahead of the Union Budget 2022-23, which will be presented by Finance Minister Nirmala Sitharaman on Tuesday, 1 February, the results of a nationwide poll by CVoter revelaed that 62.4 percent of the people surveyed believe that in general the inflation has been unchecked and prices have gone up after Narendra Modi became the prime minister.
Meanwhile, 27.5 percent people said that inflation “has been checked and the prices have gone down,” and 10.1 percent said that “nothing has changed and prices remain the same.”
The pre-budget nationwide survey was conducted from 23 to 28 January 2022, with a sample size of 3,000 people and reveals people’s thoughts on inflation, quality of life, and the central government’s economic policies.
Impact of Inflation on Quality of Life
When asked about the adverse effect or bad impact of the state of inflation on the quality of life in the last one year, 49.3 percent of the people answered that they were effected “too much,” while 42.3 percent said they were impacted “little bit,” and 8.3 percent were “not at all” impacted.
On being asked if the overall quality of life of “Aam Aadmi” or common person has improved, deteriorated, or remained the same, in the last one year – 42.4 percent said that it has deteriorated, while 32.8 percent said that it has remained unchanged, and 24.8 percent people said that it has improved.
Further, on being asked if the quality of life will improve, remain the same, or worsen in the next one year, over one third (37.7 percent) of the people surveyed held hope and said that it will improve, while almost one third (31.3 percent) believe that it will deteriorate, and 31 percent believes that the quality of life will remain the same.
How Much Income per Month Is Required for an 'Average' Quality of Life?
On being asked how much income is required for an "average" quality of life for a family of four people, 28.4 percent chose “up to Rs 20,000,” while 20.9 percent chose “Rs 50,000 to 1 lakh.”
Meanwhile, 16.8 percent of the people surveyed said Rs 30,000 to 40,000 is required for an “average” quality of life for a family of four people.
On being asked if the chosen income should be made tax-free, the people surveyed gave a resounding “yes” (83.3 percent), while only 16.7 percent people said “no.”
Answering a question on the person’s personal income, 57.4 percent people said that their income has dropped, while the expenditure has increased.
Further, 20 percent people said that while their income remained the same, expenditure has gone up.
Meanwhile, 11.5 percent said that though their incomes increased, the expenditure increased as well.
Are Daily Expenses Difficult To Manage?
When comparing a person’s current daily expenses to that of last year, 65.4 percent revealed that their current expenses have become difficult to manage, while 26.9 said that their daily expenses have increased but it is manageable.
Answering whether the central government has delivered on the economic front so far or not, 38 percent people said that the government’s performance on the economic front has been “worse than expected,” while 36.4 percent people said that it was “just as expected,” and 25.6 percent said that it was “better than expected.”
The first leg of the Budget Session of the Parliament began on Monday, 31 January, with the president's address.