Almost 50% Indians say they are 'struggling' financially, finds new Gallup survey

A new study of well-being finds Indians perception of their own lives declining

How do Indians evaluate their own living conditions? Not very well, according to a new Gallup-Healthways survey that measures well-being using five broad metrics – purpose, social, financial, community and physical well-being. “

 

The Gallup-Healthways Global Well-Being Index (Global Well-Being Index) is a global barometer of individuals’ perceptions of their own well-being. Well-being has also been shown to influence metrics such as productivity and healthcare costs.

 

According to the Index, which is a “global barometer of individuals’ perceptions of their own well-being”, Indians' average ratings of their own lives have been slowly declining. Only a fifth (21%) think they are financially thriving, while 49% are struggling. Asked whether they like what they are doing, 16% say they are thriving, which is higher than the regional average, but is lower than the global average. 49% are struggling on social indicators. The silver lining is the performance on community indicators where 33% are said to be thriving, which is higher than the regional and global average.  However, with increasing urban migration leading to large and densely-populated slum clusters in cities, even this element takes a hit in urban populations (25%) against rural ones (35%). 

 

The metrics used to measure global well-being levels are broadly defined as: 

 

• Purpose: Liking what you do each day and being motivated to achieve your goals

 

• Social: Having supportive relationships and love in your life

 

• Financial: Managing your economic life to reduce stress and increase security

 

• Community: Liking where you live, feeling safe, and having pride in your community

 

• Physical: Having good health and enough energy to get things done daily

 

FINANCIAL WELL-BEING SLIPPING | Create Infographics

The survey also finds that If India can create jobs for its vast young population and develop infrastructure to adapt to its rapid demographic and social changes, it could join China as a preeminent global economic force. “Otherwise, Indians’ well-being will stagnate as large swaths of its population remain unable to participate in the formal economy, and those at the bottom will continue to suffer,” the survey found.