Question 11 of 12advanced✨ CreateEssay5 marks

You are a Bank Officer and want to survey the saving habits of the people by taking into consideration income and expenditure of the people. Prepare a report.

Correct Answer

Project Report on Saving Habits of People

Objective: As a Bank Officer, I conducted a survey to study the saving habits of people by analysing their income and expenditure patterns.

Questionnaire Used for Survey:

  1. Name
  2. Sex
  3. Age
  4. Total Number of family members
  5. Monthly family income
  6. Location of residence: Urban / Rural
  7. Major occupation of the main bread-winner: (i) Service (ii) Professional (iii) Manufacturer (iv) Trader (v) Any other
  8. Monthly family expenditure
  9. Mode of savings: (i) Bank Deposit (ii) Post Office (iii) Insurance (iv) Mutual Funds (v) Cash at home (vi) Any other
  10. Percentage of income saved monthly
  11. Purpose of saving: (i) Children's education (ii) Marriage (iii) House purchase (iv) Medical emergency (v) Retirement (vi) Other

Data Analysis and Interpretation: Total Sample Size: 100 households Location: Urban 60%, Rural 40%

Observations:

  1. Majority of respondents belonged to urban area.
  2. People with higher monthly family income showed better saving habits.
  3. Bank Deposit was the most preferred mode of savings.
  4. Children's education and house purchase were the main purposes of saving.
  5. Rural households had lower savings due to lower income and higher expenditure on basic necessities.

Conclusion: The saving habits depend significantly on income levels and expenditure patterns. Banks should introduce schemes to encourage savings among low-income groups.

Exercise: Suggested List of Projects | Q: 11 | (Page 4)
For More Understanding

Explanation

This question is from the NCERT Economics textbook chapter on 'Collection of Data' or 'Project Work'. The textbook provides a sample project report format including questionnaire design, data collection, and analysis. Students are expected to prepare a similar report structure for the given topic. The sample project in the textbook about toothpaste serves as a template - showing how to create questionnaires, collect data, and present findings. The answer follows the same pattern: stating objective, designing relevant questionnaire, presenting sample data analysis, and drawing conclusions.

Solution Steps

  1. Step 1: Identify the objective of the survey - to study saving habits based on income and expenditure

  2. Step 2: Design a questionnaire covering demographic details, income, expenditure, and savings-related questions

  3. Step 3: Plan data collection methodology (sample size, location)

  4. Step 4: Present hypothetical data analysis showing urban-rural distribution and key findings

  5. Step 5: Draw conclusions based on observations about saving patterns

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