Authors: Anshu Narayan, Mihir Sutariya, Muskaan Singh & Nitish Shukla<\/p>\n
Introduction<\/p>\n
As the first lockdown took over India, a wave of financial imbalance was felt across the nation. People were returning home, layoffs started on large-scale, and many-faced salary cuts of up to 50% that also when an unprecedented pandemic was emerging. With such a huge population India surely has seen the worst economic disaster. Household income as a result showed a sharp and negative impact and resulted in a major financial crunch which we\u2019re striving yet to curb.<\/p>\n
Objective
\nTo determine if COVID-19 caused financial crunch among households in country.
\nData Collection
\nWe used Primary Data collection technique to find if it justifies our chosen topic. A survey form was circulated among 100 students across ITM Business School, Kharghar which had questions-
\ni.\tI\/a family member lost their job.
\nii.\tI\/family faced substantial rise in medical expense.
\niii.\tI felt inflation in essential commodity’s prices.
\niv.\tI\/a family member faced salary cuts.
\nv.\tDuring the Pandemic I realised that the living standards of most people around me went down.
\nData Analysis
\nAfter receiving responses, we were able to come up with following analysis-
\nQuestion No.\tArithmetic Mean\tStandard Deviation\tStandard Error\tZ Score
\ni.\t2.67\t1.511270788\t0.151127079\t-2.183592793
\nii.\t3.67\t1.333749935\t0.133374993\t5.023430423
\niii.\t3.87\t1.060350619\t0.106035062\t8.204833239
\niv.\t3.45\t1.459036627\t0.145903663\t3.084226891
\nv.\t3.67\t1.223135563\t0.122313556\t5.477724793<\/p>\n
Conclusion
\nIt can be concluded that-
\ni.\tPeople didn\u2019t lose their job as largely as it was hypothesized first.
\nii.\tPeople did face substantial rise in medical expenses.
\niii.\tPeople found rises in the prices of essential commodity\u2019s prices.
\niv.\tPeople also faced salary cuts who were in job.
\nv.\tPeople observed that living standard of people around them has fallen during pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"
Authors: Anshu Narayan, Mihir Sutariya, Muskaan Singh & Nitish Shukla Introduction As the first lockdown took over India, a wave of financial imbalance was felt across the nation. People were returning home, layoffs started on large-scale, and many-faced salary cuts of up to 50% that also when an unprecedented pandemic was emerging. With such a… Continue reading COVID-19 caused financial crunch among Indian Households<\/span><\/a><\/p>\n","protected":false},"author":108048,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-16772","post","type-post","status-publish","format-standard","hentry","category-economics","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/16772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/users\/108048"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16772"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/16772\/revisions"}],"predecessor-version":[{"id":16783,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/16772\/revisions\/16783"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16772"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}