look news india
Razorpay, the country's leading financial solutions company, has released its annual payments report, presenting data on the spending habits of Indians during the financial year 2024. The report analyzed more than one billion transactions made on its platform between April 1, 2023, and March 31, 2024. It is clear in this report where Indian consumers spend their money. Razorpay's Wealth, Wellness and Wunderlist report shows greater awareness of India's economic outlook with significant growth in savings and investments in FY2024. The report says that there has been an increase of 86 percent in investment in mutual funds in FY24 as compared to FY2023.
Indians also spent on travel
According to the report, Indians also spent a lot of money on travel during the financial year 2024. This year the expenditure on air travel increased 2.4 times. The cost of accommodation during the tour also increased by 29 percent this year. The report also highlights people's increasing focus on health and wellness. Expenditure on dietitians also increased by 125 percent compared to fiscal year 2013.
Indians also spent lavishly on festivals
New Year's Eve emerged as an important day on the online food ordering front. The daily average doubled and the number of people eating at restaurants increased by 60 percent. According to the ReservePay report, during the Dhanteras and Diwali festivals, people also spent heavily on gold, which was nine times more than the daily average.