Most Indians would stay indoors on New Year due to financial woes, says an ... - Times of India

The author has posted comments on this articlePriyanka Singh, TNN | Dec 16, 2013, 10.00PM IST

LUCKNOW: A recent study by the Social Development Foundation of The Associated Chambers of Commerce and Industry of India (Assocham) states that most Indians would remain indoors on New Year rather than hanging out and celebrating to welcome the new year. This is due growing instability in economy and rising inflation leading to insecurity among Indians.

The survey says that because of a number of reasons like dismal financial conditions, issues related to job security, rising inflation, traffic congestion, cold temperature, lack of safety and others, most Indians will avoid splurging on celebrations this New Year. It states that most will stay inside their homes because of financial worries which would compel them to cut down on luxury expenditures. It found that about 35 per cent of residents of urban India are pl anning to remain at home.

The survey was carried out in 10 Indian tier one and tier two cities like Ahmedabad, Chennai, Delhi, Jaipur, Bangalore, Bhopal, Chandigarh, Kolkata, Lucknow and Mumbai during October and November. It discussed the issue with a diverse group comprising college going students, young corporate executives and people engaged in various professions, couples between the age group of 18-30.

The mood is going to remain sombre as the year witnessed an increase in the number of crimes reported against women from various sections of society. More than 60 per cent of women participating in the survey said that security-related apprehensions are major reason as to why they would prefer staying at home on New Year's night.

Financial crisis owing to increasing inflation was the second most cited excuse for people to avoid New Year celebrations, followed by concerns over job security, frequent traffic jams, need for sound sleep, cold temperature and others, said the Assocham survey. About 65 percent of participating members said they would avoid going to some other place on New Year's eve and rather go out for dinner parties with family and friends within the city.

Ones who would stay at home said they have planned to host low-key gatherings with a few close friends, family and relatives in their own house. Only 10% participants said they would be travelling over seas due to cost cutting while about 25% maintained that they would go to some cheaper hilly or beach area.

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