Current Affairs - National - Discussion

As per a survey by GoBankingRates, a personal finance platform, India is the second cheapest country to live or retire among 112 countries. The survey assessed countries on four key affordability metrics viz. local purchasing power index, rent index, Groceries index, and Consumer price index. These metrics evaluates relative affordability as compared to New York city. In terms of local purchasing power, India is 20.9 per cent lower. Rent in India is 95.2 per cent cheaper, groceries are 74.4 per cent cheaper and local goods and services are 74.9 per cent cheaper as compared to New York. South Africa topped the survey as the cheapest country to live/retire. Its high local purchasing power as compared to New York, helped it to grab the first spot.