Reasons, Why Indian Techies Are Spending Less


Bangalore: The IT industry is one of the largest industries in India and there was a time when the IT professionals were considered as the luckiest among the professionals. In terms of salaries, the IT professionals never had any constrictions and were also considered as the free birds in spending.

A major portion of the business sector used to depend on the IT professionals; they were considered as the highest spending class among all the classes of professionals in India. But, with the ups and downs in the IT market, this graph has come down drastically and consequently. Now, in the present market scenario,  the IT professionals have started feeling hurdles on their spending habits.

Rahul Sachitanand and Shelley Singh from Economic Times have described some of the major reasons behind the decreased spending habit of the IT professionals in India.

1. Jobs: Disappearing and Getting Replaced

Over the past few months, the IT industry has been experiencing a considerable decrease in the number of job opportunities. And in case, there are jobs, they are getting replaced by jobs with comparatively lighter annual packages.

The Indian IT industry, which was once a $110 billion industry, experienced a sudden stroke and the growth has ceased considerably. This has affected the professionals to a greater extent and to overcome the sudden change, the professionals had to cut down their expenses.

2. Misbalance between Salary and Inflation

The costs of most of the commodities are increasing day by day. Starting from groceries to real estates and clothes to fuel, the costs has witnessed a significant change in almost every sector. But while comparing the hike in the salary packages, the increase is nowhere close to the inflation rate.

This imbalance is one of the main reasons due to which the IT professionals have stopped their spending habits like before.

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