The economic slowdown has hit home and upset family plans.
Swaroop Srivastava works with a Gurgaon-based media house. He got married two years ago and was ready to take the next step. But that was before the economic slowdown hit home.
He is not so sure now. “My salary has been cut by 10 per cent. My wife is a freelancer and doesn’t bring in a fixed salary each month. Our regular expenditure and home loan bogs us down already. I think we will give ourselves one more year before we think of starting a family.”
If you had any doubt that the global economic slowdown had affected the common man, think again. It has clearly strated affecting familes private decisions. It has rationalised not only salaries, but also parental ambitions.
“People are considering postponing a second child,” says Rupa Sharma, an administrator with Oyster & Pearl Hospital (woman and child) in Pune.
It is impossible to get data to corroborate this, because not many would talk about such decisions. But look around and anecdotal evidence abounds.
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In Srivastava’s case, age is on his side. But there are many others who are being compelled to wait without having the luxury of time. “Ladies in their late twenties and early thirties are worried about their biological clock ticking. The economic downturn is compelling some to stop thinking about children as it is a huge expense. Simply, the hospital expenses can range from anywhere between Rs 25,000 and Rs 1 lakh. That is not counting the clothes, toys, other post-natal requirements. Now is not a good time for many couples,” says Mumbai-based cosmetologist Aradhita Verma, who recently gave birth to a baby girl.
In fact, when it comes to planning children, the current slowdown has brought forth the disparity between the haves and the have-nots, and highlighted the importance of investing wisely.
Jyoti Shukla, who has a high net worth, has a five-year-old daughter. She is ready to have another child. “I invest a lot in shares so right now I am not doing that well due to the slowdown but I have invested money well and can afford a baby right now.”
Those dependent on monthly salaries think otherwise. Vishal is a software professional whose wife Kala is with an advertising agency in Pune (second names withheld on request). “Both our salaries have been slashed by 10 per cent. We have a home and a car loan to repay. We cannot even think about starting a family. We need to build a strong bank balance to be able to afford bringing a new life into this world. We are having a hard time managing our expenses already,” says Vishal.
