Are Indians saving enough? There is no clear answer
1 year, 2 months ago

Are Indians saving enough? There is no clear answer

Live Mint  

Indian household borrowings rose sharply last year, as per recently released Reserve Bank of India data. This led to a decline in household net financial savings—defined as household financial savings during the year minus financial borrowings—to just about 5% of nominal gross domestic product in 2022-23, a 2.5% annual drop. In fact, net household financial savings seem to be still about 20% of household income, calculated roughly as household consumption from GDP plus household savings. Household savings’ contribution to overall savings is likely to decline and that of corporate savings increase Eighth, international debt flows can fund part of the government’s deficit instead of forcing households to save more.

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