Household Savings

Rising income levels to optimise home affordability in next 12 months: JLL

Kolkata is estimated to be the most affordable city, while Mumbai may reach near-optimal affordability levels in 2025

80th NSS round: Surveys soon on health, domestic tourism, and travel

The survey on health will build upon the 79th round of the NSS, which had covered only a few topics on health, in contrast to the latest round, which is expected to be more extensive

Look to resolve issues with deposit growth: HDFC Bank's Atanu Chakraborty

Says focused on creating personalised experience for customers

Cong asks govt to allow indexation benefits for savings in stocks, FDs

The Congress on Wednesday said the government's proposal of giving individuals the option to choose between two tax rates for long-term capital gains (LTCG) tax on properties is not enough and it should also allow indexation benefits for other forms of savings such as stocks and fixed deposits. Professionals' Congress Chairman Praveen Chakravarty accused the government of "betraying" the middle and salaried class in the Union Budget through the removal of indexation and higher taxes on their savings and investment gains. "On 23rd July, Finance Minister Nirmala Sitharaman presented the government's budget in Parliament. We welcomed certain aspects but we strongly opposed many parts of the budget. We welcomed the fact that the FM took some ideas from the Congress party's manifesto such as the employment linked incentive (ELI) scheme, the Apprenticeship Act and removing Angel tax," Chakravarty said at a press conference at the AICC headquarters here. Among other things, we strongly ...

Household savings take a hit, Rs 60,000 crore lost annually in F&O trading

Sebi Chairperson Madhabi Puri Buch noted that trading volumes in the F&O segment have surged over the past three years, growing at an unprecedented rate

Scaling the economic ladder: Indian savings climb, yet rungs remain

For instance, only 15 per cent of US households' assets are in banks, compared to 46 per cent in South Korea

Deposits remain preferred saving instrument but equity gains steam

Equity, investment funds share in total financial wealth up by over 50% between 2011-12 and 2022-23

Financialisation of household savings can fund private capex: Goldman Sachs

The report titled 'Changing Contours of Indian Household Savings' notes that within financial savings, allocations are shifting from banks to non-banks, especially into retirement savings

Household savings likely to rise in FY24, liabilities to moderate: CRISIL

Household savings are likely to rise in fiscal 2023-24, an arm of a domestic rating agency said on Tuesday. Crisil Market Intelligence and Analytics said there are "early indicators", which show that household savings would have revived in FY24, while growth in household liabilities would have moderated. "Proxy data suggest a rebound in the overall savings rate in FY24, with contribution from households," it said in a note, adding that household savings constitute 60 per cent of the total savings in the economy. It can be noted that official data released last year showed a dramatic fall in India's net financial household savings rate to a 47-year-low of 5.3 per cent from 7.3 per cent in FY22. The Crisil report explained that households have been borrowing at a faster pace than they have been saving since the pandemic, due to which the net household financial savings, which was arrived at by adjusting financial savings for liabilities. Factors like retail credit push by banks and

Need to reconsider sachetisation of F&O trade to safeguard savings: CEA

Cautioning against household savings getting invested in futures and options trade, Chief Economic Advisor V Anantha Nageswaran on Saturday said there is a need to reconsider sachetisation of F&O trade because it requires different financial literacy. Speaking at the CII's Annual Business Summit, 2024, Nageswaran said whenever financial sector development precedes national development the story hasn't ended well for other countries as well. Asian crisis 1997-98 is a very important example, he said. When we take pride in the fact that we have the world's largest trading volume in futures and options (F&O), we need to ask ourselves is that a sign of progress or a sign of concern, the CEA said. He said the financial sector has a responsibility to ensure that capital market grows in those areas where we can actually harness Indian household savings for productive purposes. Many of the people currently engaged in the market do not understand them The sachetisation of futures and ...

Household savings dip over Rs 9 trn in 3 yrs to Rs 14.16 trn in 2022-23

Net household savings declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23, according to the latest National Account Statistics 2024 of the Ministry of Statistics and Programme Implementation. The net household savings peaked at Rs 23.29 lakh crore in 2020-21. These have been on the decline since then, the data showed. The net household savings declined to Rs 17.12 lakh crore in 2021-22 and dipped further to a five-year low of Rs 14.16 lakh crore in 2022-23. The previous low of net household savings was Rs 13.05 lakh crore in 2017-18 which increased to Rs 14.92 lakh crore in 2018-19 and Rs 15.49 lakh crore in 2019-20. The data showed that the investment in mutual funds almost trebled to Rs 1.79 lakh crore in 2022-23 in three years from Rs 64,084 crore in 2020-21. It was Rs 1.6 lakh crore in 2021-22. The household investment in shares and debentures almost doubled to Rs 2.06 lakh crore in 2022-23 from Rs 1.07 lakh crore in three years from 2020-21. I

Consumer confidence for year ahead improves further: RBI survey

Households' sentiments on the general economic situation and employment prospects recorded notable improvements for both the current period as well as the upcoming year

Lower inequality amid slower growth: A mixed bag

What other broad macroeconomic implications can be inferred from the household consumption expenditure survey factsheet?

PM Modi announces PM Surya Ghar Muft Bijli Yojana, to invest over 75000 cr

PM Surya Ghar Muft Bijli Yojana: PM Modi announces scheme to provide free 300 units of electricity every month by investing 75000 crore on this project

Financial savings increased by 14% in absolute terms: RBI deputy guv Patra

Patra also mentioned that households are shifting from financial savings to physical savings

Household savings rate plummeted to five-decade low in 2022-23: RBI

The household savings rate plummeted to a five-decade low in 2022-23 as people started spending after the restrictions on movement ended after the pandemic, the Reserve Bank of India said on Friday. Deputy Governor Michael Patra said the dip in net financial savings of households to 5.1 per cent of the Gross Domestic Product (GDP) in FY23 also includes an increase in liabilities, much of which are home loans that will show as investments in the next year. When asked if the decline in savings to a 47-year-low is indicative of over-leverage among the households, Patra reminded that historically, the average household savings rate was about 7.5 per cent but during the pandemic, it had gone up due to a variety of factors, including inability to spend due to the restrictions and also because of precaution savings. "as these movement restrictions were removed, people went out to spend and started to draw down those precaution savings. That is some of the phenomenon that we're seeing now,"

India's economic growth threatened as household savings hit 16-year low

Household financial assets, including bank deposits, cash and equity investments, after deducting debt servicing and consumption, eased to 5.1 per cent of gross domestic product

TMS Ep527: Akasa Air trouble, Twitter paywall, markets, household savings

What's weighing down Akasa Air? Will you pay for Twitter? What next after JPMorgan index inclusion? What do household net financial savings mean? All answers here

Planning before saving: How to get more from your income

Increase income and reduce expenses, say financial planning experts

55% of retail credit used for housing, education, car buys in last 2 years

A low-interest rate regime in India during the pandemic resulted in a "paradigm shift" of households' savings from financial to physical assets.