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Muttu Havalagi

Stealth • 4h

Decline in India's Household Savings Net household savings in India declined to a 47-year low of 5.1% of gross domestic product in FY23, compared to 7.2% in the previous year. The finance ministry attributes this to changing consumer preferences for different financial products, indicating no distress, as households are investing in various financial instruments and assets.

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RBI governor confident of 7.2% GDP growth in FY25 “We are confident about 7.2 percent growth in the current financial year. Of course in any projection, in any forecast, there would be always risks to the upside and downside.,” Das stated.

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Mahendra Lochhab

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The growth in assets of non-banking finance companies (NBFCs) in India is expected to sharply decline to 15-17 per cent year-on-year (Y-o-Y) in the current and next financial year from 23 per cent in FY24.

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