A new survey has revealed that four out of five Indians plan to spend less on the non-essential items. A large number of Indians now plan to end less on clothes, food and entertainment and holidays as they expect poor monsoon rains to fuel inflation further.
It has been observed that due to the scanty monsoon the inflation continues to increase and the consumers feel the pinch of the rise in prices. So the consumers are tightening their purse strings and curtailing expenditure on the non essential items. However, the market observers say that the consumer sentiments continue to remain positive so far and there is no need to tweak their long term strategy.