05-Aug-2026      19:54

Higher incomes drive a rise in household savings

Household savings as a proportion of India’s GDP increased to 21.7% in 2024-25 from 20% in 2022-23, indicating improved household financial resilience supported by higher incomes and policy measures, the government told Parliament on Tuesday.

In a written response to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary stated that total household savings, including physical assets, grew from Rs 52.25 lakh crore in 2022-23 to Rs 69.01 lakh crore in 2024-25. The figures are based on the revised GDP series introduced by the Ministry of Statistics and Programme Implementation, with 2022-23 as the base year.

News source: Capital Market - Live News