Middle Class in Crisis: Millions Lack Emergency Funds, Expert Reveals Easy Savings Plan

• 75% of Indians lack financial security; one in four cannot survive a month without income.
• Only 27% of families have liquid savings for one month's expenses; over half save less than 10% of income.
• India's household net savings dropped to a 50-year low of 5.3% of GDP in FY23, further to 18.1% in FY24.
• 50% of families face at least one major unexpected expense annually, leading to financial stress and debt.
• Experts recommend 3-6 months of expenses for salaried individuals, 9-12 months for freelancers, in an emergency fund.