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III
PROFILE OF THE STUDY
AREA AND TE SAMPLE
OF INVESTORS
PROFILE OF THE STUDY AREA AND TE SAMPLE OF
INVESTORS
PART I
This chapter is divided into two major Parts. Part I consists of the socioeconomic profile of Trichirappalli and Part II consists of the personal profile of
the investors of this study.
3.1
Profile of the study area
Tiruchirapalli was originally a Chola citadel and later, during 1st
millennium AD. Then it was occupied by other South Indian dynasties such as
the Pallavas, and Pandyas. The Chola regained control over Tiruchirapalli
during the 10th century. Urayur, which has a known history and tradition of
about 2500 years, was the capital of Early Cholas. Later, after the fall of the
Chola empire, it came under the direct conrol of the Madurai Nayak Dynasty
which paid tribute to the Vijayanagara empire. The Rock Fort temple, the most
famous landmark in Tiruchirapalli, was built by the Nayaks. The Madurai
Nayak rulers changed their capital from Madurai to Tiruchirapalli, and back,
several times.
The city is home to Nagaraja Cholan and it has many historic temples,
monuments, churches and mosques. It was the capital of the early Chola kings.
The oldest human-built dam, Kallanai, was built by Karikala Cholan across the
Kaveri River about 10 miles from Urayur. With regard to the centre of origin of
iron, Sir William Larke, Director of the British Iron and Steel Federation, says The centre of origin is variously placed in India, where there are historical
traditions and remains indicating a highly developed iron culture. Hyderabad
and Trichinopoly are considered by many to have been the centres of
production of wootz. This steel was noted for centuries, being carried by
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merchants from India to Damascus and Toledo.. Sir William gives the date of
this origin of the iron age as 1400 to 1500 B.C.E
Trichy was an important town in the days of the Later Cholas and of the
Nayak kings, and during the early days of the British East India Company. The
conquest of Tiruchirapalli by the British East India Company marked a major
even step in the British conquest of India. The well-known Trichinopoly cigars
are chiefly manufactured from Tobacco grown in the district at Dindigul. It was
said that Winston Churchill developed a taste for the mildly aromatic Trichy
cigar that was traded from Fort St George to Whitehall during the 2nd World
War .One famous landmark in Tiruchirapalli is the Rock Fort, a big outcrop of
rock, 83 metres in height. It is the only such outcrop of its kind. Because of it
Trichy is also called as Rock City. On top of it is the Ucchi Pillayar Koil, a
temple dedicated to the Hindu god Vinayaka (Ganesh), from where one can
enjoy a panoramic view of Tiruchirapalli. The temple was also used as a
military fort by the Nayaks for some time.
On the southern face of the rock are several beautifully-carved cave
temples of the Pallava period. On the eastern side is Sri Nandrudayan
Vinayakar Temple, with Ganesha as the main deity. A large-sized Ganesha and
depictions of other rare deities can be seen in this temple, which hosts festivals
every year during the Vinayaka Chathurthi (birthday of Ganesha). Many
Carnatic musicians have given concerts in this famous shrine. Around the rock
temple is a busy commercial area, mainly known for its textiles and Burmese,
Chinese, Japanese goods, known as Chatram. The Main Guard Gate is flooded
on festive occasions such as Deepavali, Ramzan, Bakrid, Christmas, and
Pongal with shoppers.
Trichy is also famous for the number of Christian churches said to have
the greatest number of churches in India. The most famous are Holy
Redeemer's Church (Sagayamatha Kovil), Our Lady of Lourdes Church(built
by Jesuits) near Chatram bus stand, and The Cathedral in Melapudur(built by
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Jesuits), all more than a century and a half old. The most famous college in
Trichy, St. Joseph's College was also built by the Jesuits, and so was
St. Joseph's School, Trichy also is also famous for Arcot Nawab Masjid (one of
the oldest), with its large water storage tank (Ahail)
Geography and climate
The river Kaveri flowing through Trichy, as seen from Rockfort temple.
The topology of Trichy is flat. It lies at an altitude of 78 m above sea level. The
river Kaveri (also called Cauvery) and the river Coleroon (also called
Kollidam) flow through Trichy, the latter forms the northern boundary of the
city. The river Cauvery flows along WNW-SSE direction through the city.
There are a few hills located within the city, the prominent among them
are Golden Rock, Rock Fort, Kajamalai and in Thiruverumbur. There are a few
reserve forests along the river Cauvery, located at the west and the north-west
parts of the city. The southern and the south-western part of the district is
dotted by several hills which are thought to be part of the Western Ghats.
Eastern ghats also pass through the district. The soil here is considered to be
very fertile. As two rivers flow through the city, the northern part of the city is
greener than other areas of the city. Trichy has a moderate and pleasant climate,
with humidity slightly above normal. The city experiences mild winters and
humid summers. The timing of the monsoon in this part of the country has
lately become unpredictable, with the rainy season starting from mid-October
until early-November and the rains then extending until early or mid-January.
Demography
As of 2009, Trichy had a population of 11,39,534. Males constitute
49.97% of the population and females 50.03%. Trichy has an average literacy
rate of 91.45%. Male literacy is 94.17% and female literacy is 88.73%. In
Trichy 9.59% of the population is under 6 years of age. The city's population is
predominantly Hindu (with both Saivaite and Vaishnavaite), and there are
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sizable population of Christians and Muslims. Sikhs and Jains are also present
in smaller numbers as businessmen mainly.
The most widely spoken language is Tamil, though there are also
significantly large numbers of people speaking Telugu, Saurashtrian, Kannada
and Thanjavur Marathi. The standard dialect is the Central Tamil dialect.[5][6]
Madurai Tamil is also widely spoken.
During the pre-independence era, Anglo-Indians, many of whom
worked in the 'South-Indian Railways', started settling in 'Golden RockTownship' and 'Crawford' located within the city. Crawford is considered as
one of the expensive areas in the city. The place is predominantly Christian.
3.4
Economy
Trichy is a major engineering hub and energy equipment and fabrication
center of India.
BHEL - Bharat Heavy Electriclas Limited
Bharat Heavy Electriclas Limited (BHEL) is ranked among the leading
Power Plant Manufacturers in the world. At Tiruchirapalli, the High Pressure
Boiler Plant of the Bharat Heavy Electricals Limited (BHEL) was setup in
1963. Now, it is one of the foremost manufacturing facilities within BHEL and
it has 3 major plants namely, High Pressure Boiler Plant, Seamless Steel Tube
Plant and Boiler Auxiliaries Plant. BHEL was set up during the period of
K.Kamaraj, the then Chief Minister of Tamil Nadu and the statue of K.Kamaraj
is there at the entrance of the Colony main Gate.
•
A number of small scale industries have also sprung up in Trichy,
mostly around Thuvakudi and Mathur.
•
Leather Tanneries are located on the way to Pudukottai. Viralimalai,
considered an industrial sub urban, has the factories.
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•
Manachanallur has numerous rice mills supplying polished rice all over
Tamil Nadu and it is well known for the quality of the rise produced
from its land.
•
The economy of the city is driven to a certain extent by IT/ITES
companies encouraged by the support from state government. A
dedicated stretch of land has been identified and developed to increase
the state's share in national IT/ITES exports. The government had
begined its work for setting up IT park in the city. The economy of the
city would be increased to a great extend if this park comes into
working. Which would be finished in about one year.
•
HCL has a carrier development centre in the city to guide the youth of
the city. More over the city has many reputed MNC's are in the city, and
still many to come.
3.5
Transportation
a)
Roadways
Kaveri Bridge on NH 45 connects Trichy and Srirangam. Trichy is well
connected to various parts of Tamil Nadu, by private and public bus services.
There are two Bus Stands at Tiruchirappalli, as explained below:
Chathiram (also called Chinthamani or Main Guard Gate Bus Stand)
The Chathram (Main Guard Gate) bus stand, near Rock Fort temple, runs local
and outstation (City-to-Town) bus services which connect people to nearby
towns and villages such as Thuraiyur, Perambalur, Ariyalur, Cuddalore,
Jeyankondacholapuram, Vriddhachalam, Chidambaram, Neyveli, and many.
Bus services are frequent throughout the day and the night.
The central bus stand runs long distance services to major cities and
states of South India such as Tanjore,Chennai, Madurai, Coimbatore,
Bangalore, Tirunelveli, Nagercoil, Tirupathi, Salem, Erode, Pudukkotai,
Dindigul, Rameswaram, Theni, Tindivanam, Hosur, Vellore,Tiruvannamalai,
Kumbakonam, Mayiladuthurai, Namakkal, also to other states.
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b)
National Highways passing through Tiruchirappalli
On the road infrastructure Trichy will have four track highways from the
city branching to destination Chennai, Madurai, Nagappattinam and
Coimbatore.
c)
Railways
Trichy is a hub of Southern Railway (India). Southern railway connect
this central part of Tamil Nadu to various parts of India, notably regions in
Kerala, Andhra Pradesh, West Bengal, Maharashtra, Karnataka, Delhi, and
Madhya Pradesh.
Trichy Railway Junction has five branches leading to Madurai,
Rameswaram, Erode, Tanjore and Chennai and currently there are 4 platforms
in operation. Platform no 5, 6, 7 is under gauge conversion which is to be
finished and brought into working soon.
Trichy is one of the busiest railway junctions in India. It has more than
200 train crossings per day in its division. It also has the record of a railway
station to have broadgage next to Chennai. The railway station has been
accredited with international standard, and the development is under process.
The Electrification between Villupuram and Tiruchchirappali has been
completed and service started with electric traction on the chord line. The
double line is also approved for the same section and the work had started.
This division has the press which supplies the printed unreserved ticket for
Tamil Nadu railway stations.
d)
Airways
Trichy has an International airport about eight kilometres from the
city, which operates flights to several Indian cities, territories, and
neighbouring countries including Malaysia, Singapore, Sri Lanka and the Gulf
by Air Asia, Indian Airlines, Air India Express, Srilankan Airlines, Mihin
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Lanka,Kingfisher Airlines,Paramount Airways. Trichy airport is the second
largest airport in Tamil Nadu next to Chennai to get international connectivity
to Colombo (Srilanka) in 1981. Nowadays, flights are operated to Gulf
countries such as the United Arab Emirates and Kuwait.
Plans are on to upgrade it to a full fledged international airport in the
next three years.[7] The extended runway (8000 ft) was commissioned and
further expansion to 12500 ft has started. The new terminal building is opened
in 2009. Two aero bridge are opened to use. This is the second airport in Tamil
Nadu to get it next to Chennai. An new Air Traffic Control Centre is also being
planned to be constructed to cope up with growing air traffic in the region.
3.6
Administration
The city is a Municipal Corporation. It also serves as the headquarters of
the district with the same name. The city is headed by a Mayor, under whom
the Deputy Mayor and several councilors elected by people representing work
as administrative wards; as well as a corporation Commissioner of the rank of
IAS to administer the city.
The city has one Member of Parliament representing the Trichy
constituency, Tiruchi (East) and Tiruchi (West) Srirangam, Musiri, Lalkudi and
Thiruverambur assembly constituencies are part of Tiruchirappalli (Lok Sabha
constituency) .
The district is headed by the District Collector of the rank of IAS.
3.7
Stock Exchanges in Tamil Nadu
There are two stock exchanges in Tamil Nadu. They are
1)
Madras Stock Exchange Ltd (MSE) is a self regulatory organization
having permanent recognition under the Securities Contracts (Regulations) Act,
1956, and the fist Stock Exchange in the southern part of the country.
Established in the year 1937, the Exchange has a long history of service to the
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nation and pioneered the development of the capital market in this part of the
country by catering to the needs of the industrial entrepreneurs to raise capital
for industrial promotion and providing investment opportunities to the public.
The Exchange is a demutualised corporate entity pursuant to the MSE
(Corporatisation and Demutualisation) Scheme, 2005 approved by the
Securities and Exchange Board of India (SEBI). The stakeholders of the
Exchange include Financial Institution of the Tamil Nadu State Government,
leading corporate houses, high networth individuals and Trading Members of
the Exchange. The Exchange is managed by the Board of Directors,
representing the various stakeholders in the manner as stipulated in the
Demutualisation Scheme.
MSE has a strategic arrangement with the National Stock Exchange
(NSE) which provides for the facility of trading by the members of MSE on
NSE platform and also for trading of MSE listed companies on the NSE.
Empowerment of the investors through education has been the focus of
the Exchange. The Exchange has established an exclusive investment education
centre named as the “MSE Institute of Capital Markets” to cater to the
educational needs of the market participants. This Centre conducts regular and
intensive training programmes, seminars and workshops throughout the State
of Tamil Nadu & Pondicherry. The Exchange continuously holds monthly
Investors’ Meet at its premises in Chennai on the third Saturday of every
month.
The Exchange also provides Depository Services as Depository
Participant of CDSL and NSDL. MSE has set up subsidiary - MSE Financial
Services Ltd., which is a Corporate Broking House, having membership of
BSE and NSE and trading facilities are provided to the investors through the
Members of MSE.
86
a)
Trading Facilities
The Exchange provides cost effective and efficient trading facilities
through the Members of the Exchange, for which it has the following
arrangements:
b)
Trading through the Subsidiary
In terms of the guidelines issued by SEBI, the Exchange has floated a
Subsidiary Company– MSE Financial Services Ltd., which is a corporate
member of both NSE and BSE. The Members of the Stock Exchange are
eligible to trade through the Subsidiary route, by registering themselves as Subbrokers of MSEFSL. The contract notes are issued by the Subsidiary and the
funds and securities of clients are directly handled by the Subsidiary, ensuring
highest level of safety and security to the investors.
c)
MoU with NSE
The Exchange has entered into an MoU with the National Stock
Exchange Ltd (NSE) and the same is duly approved by SEBI, under which the
members of MSE can access the trading platform of NSE and execute the
trades. Under this arrangement, the members would issue contract notes of
their own, as a member of MSE. The arrangement also provides for trading of
MSE listed shares at NSE, subject to eligibility criteria.
d)
MSE - NSE Trading Operation
1) Enablement Application for NSE Trading Existing Members of MSE
New Members
2) MSE contract note
3) MSE KYC Individual
4) MSE KYC Corporate
5) User id application
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6) System Configuration for now terminal
e)
Investors Education
The Madras Stock Exchange (MSE) has initiated various steps to
promote education in securities markets and create investor awareness.
MSE strongly believes that investors are the backbone of the securities
market. They not only determine the level of activity in the securities market
but also the level of activity in the economy.
However,
many
investors
may
not
possess
adequate
expertise/knowledge to take informed investment decisions. Some of them may
not be aware of the complete risk-return profile of the different investment
options. Some investors may not be fully aware of the precautions they should
take while dealing with market intermediaries and dealing in different
securities. They may not be familiar with the market mechanism and the
practices as well as their rights and obligations.
Against this MSE launched a comprehensive education campaign aimed
at creating awareness among investors about securities market, under the aegis
of “Investor Awareness Campaign” initiated by SEBI. The motto of the
campaign is “an Educated Investor is a Protected Investor.”
The structural foundation of the campaign is based on workshops that
are being conducted all across the Tamilnadu with the continued and active
participation
of
market
participants,
market
intermediaries, Investors
Associations etc.
In order to further give an impetus to this initiative, the Exchange has
established the MSE Institute of Capital Markets, as a separate wing
exclusively for Education & Training in the Securities and Financial Markets.
MSE offers Investor Services in the following Centres in Tamilnadu : T.Nagar
Chennai, Mylapore Chennai, Virudhunagar, Karaikudi, and Tirunelveli
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2)
Coimbatore Stock Exchange Limited (CSX) is the youngest stock
exchange in India. It was founded by K.G. Balakrishnan in the year 1996. It is
now governed by the Governing Body which consists of the member brokers.
The exchange also has Screen Based Trading (SBT) system which
commenced operations on 9th of October, 1996. The system is equiped to
handle 25,000 traders per day and 400 members. Each member has been given
a computer terminal which is connected in a Local Area Network (LAN).
a)
Location
Its trading hall consists of 19000 sq.ft area. The Exchange has
successfully implemented Screen Based Trading (SBT) system and
commenced its operations with effect from 9th October, 1996. The system is
capable of handling 25,000 trades per day. All the members of the Exchange
are connected in a Local Area Network (LAN). The system can be expanded to
handle upto 400 members. The SBT system has been interfaced with the
existing settlement system. The margins are monitored online on the SBT
system. Each member is given a computer terminal, telephone connections
which are accommodated in a cubicle. The communication facilities include
the terminals of Reuters and Knight Ridder constantly updating economic and
capital market related news.
b)
Coimbatore Stock Exchange Members
Currently the segregation of Coimbatore Stock Exchange are as follows:
Individual Members
136
Corporate Members
57
Chartered Accountants/ Company Secretaries
40
MBAs
17
Engineers
14
Cost Accountants
10
Post Graduates
20
89
PART II
3.2.01 Profile of Investors
The study of investors preferences in capital market investment with
special reference to Trichirappalli District was carried out by a personal
interview of 300 investors with the help of a structured interview schedule. For
the purpose of sample study Tiruchirappalli district was divided into three
geographical regions namely the southern region, the central region, and the
northern region. The southern region consists of the following places like
Manikandam, Ramji Nagar, Enamam Kolathur, Navalpattu, and Manaparai.
The central region consists of the following places in Trichy city like central
bus stand, Puthur, Thillai Nagar, Chathiram bus stand, Srirangam and BHEL.
The northen region consists of places like Tolgate, Samayapuram, Lalgudi,
Jeeyapuram, Musiri, and Thottyam.
A sample of 100 investors were selected from each of the three sample
regions on simple random basis from the list of investors supplied by broker
firms and mutual funds agents. The personal profile of respondents who
participated in the survey are presented in tables below. It is arranged in the
order of age, sex, marital status, educational qualification, occupation income,
and savings. The sample places chosen for the study in Trichirappalli District
is shown below in the Map.
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MAP 3.1
TRICHIRAPPALLI DISTRICT
91
Personal Profile of Respondents
Age wise distribution of respondents is shown in table 3.1 reveals that
29.7 per cent of investors are in the group of 36 to 45 years, 26.7 per cent are in
the group of upto 35 years and 26 per cent are in the group of 46 to 55 years.
Among three regions, the major group of investors in the southern region are
upto 35 years (37 per cent) those in the central region are investors between 36
years and 45 years (37 per cent) and those in the northern region are investors
between 46 and 55 years (36 per cent).
Table 3.1
AGE
Factors
Up to 35
36 – 45
46 – 55
Above 55
Total
Regions
All Trichy
Southern
Central
Northern
37
22
21
80
(37.0)
(22.0)
(21.0)
(26.7)
26
37
26
89
(26.0)
(37.0)
(26.0)
(29.7)
20
22
36
78
(20.0)
(22.0)
(36.0)
(26.0)
17
19
17
53
(17.0)
(19.0)
(17.0)
(17.6)
100
100
100
300
(100.0)
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Source: Interview Schedule
92
The classification of respondents according to sex shown in table 3.2
reveals that 85.3 per cent of them are male members and 14.7per cent are
females. In the southern region, 78 per cent are male members while 89 per
cent each are male members in the central and northern region.
Table 3.2
Sex
Factors
Male
Female
Southern
78
(78.0)
Regions
Central
89
(89.0)
Northern
89
(89.0)
22
(22.0)
11
(11.0)
11
(11.0)
All Trichy
256
(85.3)
44
(14.7)
100
100
100
300
(100.0)
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Source: Interview Schedule
Total
93
Distribution according to marital status shown in table 3.3 shows that 79
per cent investors are married, 16.3 per cent are unmarried and 2.3 per cent
each belong to widow and divorced group.
Table 3.3
Marital Status
Factors
Married
Unmarried
Widowed
Divorced
Southern
70
(70.0)
Regions
Central
84
(84.0)
Northern
83
(83.0)
21
(21.0)
5
(5.0)
13
(13.0)
2
(2.0)
15
(15.0)
-
49
(16.3)
7
(2.3)
4
1
2
7
(4.0)
(1.0)
(2.0)
(2.3)
All Trichy
237
(79.0)
100
100
100
300
(100.0)
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Source: Interview Schedule
Total
94
The distribution of respondents according to educational qualification
shown in table 3.4 reveals that 38 percent are graduates and 26 percent are
post-graduates and above. Professional degree holders constitute 23 percent of
the total number of respondents. Slight regional difference is observed with
regard to qualification of respondents.
Table 3.4
Education
Regions
All Trichy
Southern
Central
Northern
14
12
13
39
Below Graduation
(14.0)
(12.0)
(13.0)
(13.0)
40
51
23
114
Graduation
(40.0)
(51.0)
(23.0)
(38.0)
Post-graduation
26
14
38
78
and above
(26.0)
(14.0)
(38.0)
(26.0)
Professional
20
23
26
69
Degree
(20.0)
(23.0)
(26.0)
(23.0)
100
100
100
300
Total
(100.0)
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Factors
Source: Interview Schedule
95
Occupational distribution of the investors given in below Table 3.5
reveals that 45.3 percent of the respondents are employees, 20 percent are
engaged in business or industry and about 14 percent are pensioners. Investors
doing professional practice comes to 12.7 percent. A market difference is noted
in the pattern of respondents managing business or industry in southern and
northern regions.
Table 3.5
Occupation
Factors
Employee
Professional
Businessman/industrialist
Pensioner
Others
Total
Regions
All Trichy
Southern
Central
Northern
41
46
49
136
(41.0)
(46.0)
(49.0)
(45.3)
11
13
14
38
(11.0)
(13.0)
(14.0)
(12.7)
27
22
11
60
(27.0)
(22.0)
(11.0)
(20.0)
12
15
14
41
(12.0)
(15.0)
(14.0)
(13.7)
9
4
12
25
(9.0)
(4.0)
(12.0)
(8.3)
100
100
100
300
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Source: Interview Schedule
96
(100.0)
The distribution by income class of investors shown in table 3.6 reveals
that 37.3 percent of them fall in the income group between Rs.100000 and
Rs.200000, 33.3 per cent belong to the income group of Rs.200001 and
Rs.500000 and 14.7 per cent have income between Rs.50001 and Rs.100000.
On regional review it is observed that major part of respondents in each region
is in the income group of Rs.100001 to 200000 and Rs.200001 and 500000.
The average annual income of the whole sample amounted to Rs. 256083 while
it is Rs.227250 in the southern region, Rs.267250 in the central and Rs.273750
in the northern region.
Table 3.6
Annual Income
Factors
Up to 50000
50001-100000
100001-200000
200001-500000
Above 500000
Total
Regions
All Trichy
Southern
Central
Northern
2
4
5
11
(2.0)
(4.0)
(5.0)
(3.7)
23
13
8
44
(23.0)
(13.0)
(8.0)
(14.7)
37
38
37
112
(37.0)
(38.0)
(37.0)
(37.3)
31
31
38
100
(31.0)
(31.0)
(38.0)
(33.3)
7
14
12
33
(7.0)
(14.0)
(12.0)
(11.0)
100
100
100
300
(100.0)
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Source: Interview Schedule
97
Classification of investors according to their savings shown in Table 3.7
reveals that 33.7 per cent have savings between Rs.50001 to Rs.100000
whereas 30.3 per cent have savings above Rs.100000. Only 11.7 per cent of
respondents have savings less than Rs.25000. In the southern region, 32 per
cent respondents have saving between Rs.25001 to 50000 and 33 per cent have
savings above 100000. While 28 per cent have savings between Rs.500001 to
100000 and 26 per cent have savings between Rs.25001 to 50000. In the
northern region 40 per cent investors have savings between Rs.50001 – 100000
followed by 34 per cent in the savings group of above Rs.100000. Average
annual savings of 300 investors came to Rs.81542 which is Rs.74300 in the
southern region, Rs.82275 in the central region and Rs.88050 in the northern
region.
Table 3.7
Annual Savings
Factors
Up to Rs. 1000
Rs. 10001-25000
Rs. 25001-50000
Rs. 50001-100000
Above Rs. 100000
Total
Regions
All Trichy
Southern
Central
Northern
3
2
4
9
(3.0)
(2.0)
(4.0)
(3.0)
8
11
7
26
(8.0)
(11.0)
(7.0)
(8.7.0)
32
26
15
73
(32.0)
(26.0)
(15.0)
(24.3)
33
28
40
101
(33.0)
(28.0)
(40.0)
(33.7)
24
33
34
91
(24.0)
(33.0)
(34.0)
(30.3)
100
100
100
300
(100.0)
(100.0)
(100.0)
(100.0)
Note: Figure in parentheses are percentage of the respective totals
Source: Interview Schedule
98