A year after Covid hit economies, India still financially insecure: Survey

Since the nationwide lockdown in March 2020, urban Indians have grown more "anxious" about financial security, the Max Life India Protection Quotient 3.0 (IPQ 3.0) survey showed. Anxiety levels climbed up from 55% to 61% this year, the survey said.

Indians were most anxious about the possibility of a family member catching the Coronavirus or death of a breadwinner. The potential cost of treatment also added to the pressure.

There is a significant shift towards increasing savings and investments, the survey said. "Financial anxieties related to Covid-19, and ability of current earnings to cover expenses have emerged as top concerns