Mumbai: Even when India records an annual inflation rate of 3.16% in April 2025, the lowest since July 2019, as per the Ministry of Statistics and Programme Implementation National Statistics Office press release, things are still difficult for the common man. The rising cost of living makes it tough for the middle class to solely depend on their salaries.
Meeting the monthly expenses comprising rent, home loan, vehicle loan EMI, children’s education fees, medical expenses, parent support, food, and other miscellaneous expenses is always a challenge. This prompts many to seek additional sources of income, while for some it is to meet additional expenses when the salaries they earn aren’t enough, for others it is to meet their living standards.
It is no longer a secret that a significant proportion of the Indian workforce is engaging in side hustles. There are instances of IT professionals working as cab drivers, some starting their own businesses, while others take up farming. According to a report by ADP Research Institute, over 40% of Indian workers have two or more sources of income, the highest percentage among 18 countries that were surveyed.
“There’s a growing trend to take up gig work, driven by the need to meet basic expenses and achieve financial stability,” says a private sector employee. He adds that today a large section is employed in the private sector, and there is no guarantee that you will have a job till your retirement; anything can happen, we see companies close down their operations.
A young journalist working in a newspaper said that this works in two ways: one, you earn extra income, and two, you add new skills. At the end of the day, it is about getting more money into your bank account. Many try to earn income through stock market trading, provided they have enough knowledge, while others stick to income from various sources.
In rural areas, farmers are adopting innovative methods to increase their earnings. A study conducted by Atmashakti Trust found that second crop farming has led to increased income for farmers and reduced migration activities in Odisha. Farmers who cultivated Rabi crops like green gram and black gram after the Kharif season earned an average of Rs. 15,000 from 0.9 acres of land.
The unincorporated non-agricultural sector, comprising small manufacturing, trade and services, has also seen growth. According to the Annual Survey of Unincorporated Sector Enterprises (ASUSE), about 84 lakh establishments and 1.1 crore jobs were added in 2023-24. Despite a 13% increase in nominal wages, high inflation has limited real wage growth.
The rise in secondary income sources reflects the resilience and adaptability of the Indian workforce. Whether through freelancing, trading or innovative farming practices, individuals are finding ways to navigate the challenges posed by inflation and secure their financial future.
