BJP Reels Out Data on Household Savings, Wealth & Equity to Refute Congress's Claim

The BJP has released a fact-sheet reeling out statistics on household savings and wealth creation in the country to refute the Congress's claim that under the Modi government real wages have declined and household savings and consumption have fallen while the debt burden and income inequalities are rising.

- AGENCIES

The factsheet highlights that the increase in household debt is not due to rising indebtedness per borrower but due to a greater number of borrowers, reflecting improved credit access. The sharp decline in net household savings and an increase in household liabilities is because Indians are investing in physical assets (real estate and automobiles).

The increased number of education loans and consumption of experiences are also leading to the trend, it notes.