Section

Household savings at five-decade low: A look at key numbers

By Economic Times - 7 months ago
Households' net financial savings decreased to the lowest level in five decades, amounting to 5.3% of GDP in FY23, down from 7.3% in the previous fiscal year, as reported by the national accounts statistics released on Monday. Economists had identified the increase in household borrowings as the cause for the decline when the initial data was published in September 2023.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.