Unveiling The Economic Tapestry: A Study On Indian Individual Expenditure Trends In The Post-Upi Era

Abstract

Background/Aim:

This study aims to investigate the impact of the Unified Payment Interface (UPI) on Indian Individual expenditure trends, considering the transformative era of digital payments post the introduction of UPI in 2016. With the increasing prevalence of digital transactions, understanding how UPI has influenced spending patterns becomes crucial for comprehending the evolving economic landscape.

Methodology:

The research adopts a descriptive methodology, examining the spending behaviors of 398 Indian Individuals. The sample size is determined using Taro Yamane’s formula. The study explores various dimensions, including comparative advantage, Individual awareness, trust in UPI, ease of use, and the proportionate spending facilitated through UPI. The research employs a systematic approach to unravel the intricate factors shaping expenditure patterns in the post-UPI era.

Results:

The findings of the study reveal significant insights into the impact of UPI on Individual expenditure. The analysis encompasses diverse aspects, such as the frequency and purpose of UPI usage, changes in spending habits, and the proportion of income allocated through UPI. Demographic details, including gender, age, education, occupation, and family income, are presented to provide a comprehensive understanding of the sample population. Descriptive analysis of trust in UPI, relative advantage over hard cash, awareness, ease of use, and financial discipline in UPI usage are presented, revealing nuanced perspectives.

Conclusion:

This research contributes to the growing body of knowledge on digital payment systems, particularly the transformative effects of UPI on Individual expenditure in India. The study underscores the importance of understanding the factors influencing spending patterns in the dynamic landscape of digital transactions. Policymakers, financial institutions, and individuals stand to benefit from the nuanced insights provided, guiding their strategies and decisions in navigating the evolving realm of digital payments. The study serves as a timely exploration of the economic implications of UPI, shedding light on its multifaceted influence on Individual expenditures.