A STUDY ON IMPACT OF COVID-19 ON HOUSEHOLD INCOME AND EXPENDITURE

Abstract

The objective of our paper is to recognize the consequence of COVID 19 on household finances i.e. effect of the pandemic on their income, expenditure pattern, method of payment, manner of buying. This paper also analyses how the income of respondents from different occupations and various sectors has been impacted due to measures taken during COVID 19. In this paper, we consider customer expenditure and increase of Covid-19, and consequent government-enforced lockdown in India. Primary data about change in income of individuals, change in pattern of expenditure before and after COVID 19 was collected. The data was collected using the random sampling method. The respondents belong to different age groups. They work in differing occupations such as salaried, self-employed, professional, etc. Their organizations are further categorized into distinct sectors such as Banking and Financial Services, Educational Institutes, Manufacturing industry, Government organization, IT Enabled services, legal advisory, medical practice and so on. Hence, we could conduct the study on the income of respondents belonging to those industries affected post COVID 19. There is a substantial association between measures taken to prevent COVID 19 and the expenditure pattern of individuals pre and post COVID 19