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Household debt rises 158% after COVID-19: Report
The Daily Guardian
|January 11, 2025
The Q2FY25 GDP came at 5.4 per cent against RBI's expectations of 6.5 per cent is also because of this.
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Household (HH) debts have gone up due to increased financial inclusion amid increased wealth because of increased investments in real estate and equities according to a recent report 'India Strategy' by DAM Capital.
"due to increasing financial penetration. 18.3 per cent of adults have some outstanding loan, rural male more likely to have debt. But, Wealth effect kicking in: HH's GFA totalled 158% of GDP in Q1FY25 vs. 124% at end-Dec-19, largely due to realty & equity investments." said the report.
The report says that higher indebtedness and wealth effect have increased inequality. The number of individuals with gross income of over Rs 1cr has increased by 70 per cent in the last two years.
This story is from the January 11, 2025 edition of The Daily Guardian.
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