A new survey by the research and consulting firm Ryder Logistics has found that a whopping 80 per cent of Indian households are unable to afford rent for their entire houses.
The survey, conducted in the state of Uttar Pradesh, found that the percentage of households that have no cash to spare to cover basic needs like food and fuel has soared to 60 per cent, which is almost five times the figure for the entire country.
The research firm, which surveyed 2,000 households across the country, found the average household income of an Indian is about Rs. 5,000 per month.
The findings of the survey, which was conducted by the consulting firm, Ryder Logistics, showed that the average family income has risen to Rs. 6,000 a month in Uttar Pradesh.
In fact, the average income of a household in the State is Rs. 3,500 per month, a whopping six times higher than the average for India overall.
Ryder Logistical also found that nearly 60 per in-depth interviews were conducted across the state.
In Uttar Pradesh alone, the survey found that one in seven households had a financial problem, while one in ten households was struggling with rent.
The firm said that more than 80 per and half households in Uttar aplicados that were not able to cover their basic needs were facing financial difficulties and were facing the risk of evictions, the loss of their properties and even losing their jobs.
“It is a worrying situation that is being exacerbated by the lack of affordable housing,” the company said.
“In rural India, there are also instances of the people trying to sell their homes at inflated prices and the banks are not providing credit,” the firm said.
“The situation is worsening with the increased number of people being evicted from their properties.”
RyderLogistics said that while the country has a low GDP growth rate, the country’s cities are growing faster than the country at large.