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Should I move to paid hosting or stay with blogspot hosting? Advice needed?

I am working in a Digital Marketing Company in India and have been thinking to start a blog of my own. Currently I have a domain name hosted on blogspot.com from past one year and with the renewal coming near I was thinking of buying a paid web hosting. From my experience as an SEO executive I know its better to use a paid hosting service rather than free blogspot blog but I am hesitating to spend the money. I earn around 15k in Indian currency. Somehow able to save 4k every month for emergency. Still, is it a good idea to continue working on blogspot or should I shift to paid hosting? Does anybody have any suggestions for cheap and legitimate hosting options in India.

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