More Indians losing hope of improved quality of life under Modi, survey shows

NEW DELHI – More Indians are becoming less hopeful about their quality of life, as stagnant wages and higher living costs cloud future prospects, in disappointing news for Prime Minister Narendra Modi ahead of this week’s annual budget.

More than 37 per cent of respondents in a pre-budget survey said they expect the overall quality of life for ordinary people to deteriorate over the next year, the highest such percentage since 2013, findings released by polling agency C-Voter showed on Jan 29.

Mr Modi has been prime minister since 2014.

C-Voter said it polled 5,269 adults across Indian states for this survey.

Persistent eye-watering food inflation

has squeezed Indian household budgets and crimped spending power, and the world’s fifth-largest economy is expected to post its slowest pace of growth in four years.

Nearly two-thirds of survey respondents said inflation remains unchecked and prices have gone up since Mr Modi became prime minister, while more than half said the rate of inflation has “adversely” affected their quality of life.

Mr Modi, in the nation’s annual budget this week, is expected to announce measures to shore up faltering economic growth, lift disposable incomes and placate a stretched middle class.

Nearly half of respondents said their personal income has remained the same over the last year, while expenses rose, while nearly two-thirds said rising expenses have become difficult to manage, the survey showed.

Despite world-beating economic growth, India’s job market offers insufficient opportunities for its large youthful population to earn regular wages.

In the last budget, India earmarked nearly US$24 billion (S$32 billion) to be spent over five years on various schemes to create jobs, but those programmes have not yet been implemented, as discussions on the details drag on. REUTERS