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New Delhi: India’s household savings continued their downward trajectory for the third consecutive year, slipping to 18.1 per cent of GDP in the financial year 2023–24 (FY24), according to CareEdge Ratings. The report added that gross domestic savings declined to 30.7 per cent of GDP in FY24, down from 32.2 per cent in FY15. Meanwhile,…
Households will remain the top net lenders to the rest of the economy in the coming decades. (Representative image) In India, the household sector typically generates surplus savings relative to its investment, which it lends to other sectors. Household savings have again started building up, which sharply declined from the level in 2020-21, and will…
Budget 2024 Expectations: Faced with a declining earnings and savings scenario, many Indian households are hoping that Budget 2024-25, to be presented by Finance Minister Nirmala Sitharaman will bring some respite. Many have been writing about the rising costs related to food, school education, rent, transportation, cost of electricity, etc., the basic expenses incurred by…