Household savings to recover in H1 FY25 as debt load eases

Quick Summary:

This upturn is attributed to reduced household liabilities, boosted insurance savings, lower currency holdings, and robust capital market investments.

Net household financial savings in India improved from 5% of GDP in FY23 to 5.3% in FY24, and early indicators suggest a sharp rebound in the first half of FY25.

Household debt also increased, reaching 41% of GDP in FY24.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: India

Topics: RBI personal loans Household debt statistics Business news Liabilities reduction Gross financial savings growth Financial savings GDP Debt load household Household savings

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-16 @ 02:48:27 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 816 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25182739

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