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Falling household savings a risk to India's world-beating growth
Hindustan Times
|September 26, 2023
A dip in Indian households' net financial savings due to elevated debt threatens to choke a major source of funds for the government's capital investments key for the nation to retain its mantle of the fastest-growing major economy.
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Household financial assets, including bank deposits, cash and equity investments, after deducting debt servicing and consumption, eased to 5.1% of gross domestic product in the fiscal year ended March from 7.2% in the previous year, according to latest data from the Reserve Bank of India (RBI).
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