A STUDY ON THE ASCERTAIN INCOME, EXPENDITURE AND SAVING PATTERN OF GULF RETURNED IN MALAPPURAM DISTRICT

Kerala is a developing state in India. There are a large number of Keralities working in gulf countries. The Keralities are working in different segments of gulf countries and their incomes are transferred to Kerala. The Keralities contribute enough foreign exchanges to our country. This helps the country to sustain its foreign exchange reserve. So the keralities play a vital role in the contribution of foreign money. Since 1980‘s many people in Kerala seek their fortune in gulf countries they earn handsome income which they invest in the Kerala in form of fixed deposit in banks, deposit in post office, co- operative bank chitty and so many other avenues. This improved their financial position and standard of living which in turn promoted the income development of the state. (Prakash, 2013) The saving habits of the Keralities people are rational and they are investing money in a good avenue and this increase the income level and maximize the wealth. Keralities are profit motive. However, it has been found in many studies that the income and saving habit are related. Low income earned people spend more money for their purchase and their savings are comparatively low, but high income earned people spend their money in limited proportions. Behavioral and psychological approaches of gulf returned people are entirely different. Some of them are investing their whole saving in to business and many of them are joining firms for employment. Gulf returned people are spending more fund for living purpose and they are seeking loan from bank or financial institution