Credit over caution: Household savings in India fall to 18.1% of GDP; more Indians rely on credit to fund expenses – Times of India
India’s household savings have slipped to a new low for the third consecutive year, falling to 18.1% of GDP in FY24, according to a report by CareEdge Ratings.On the other hand, household debt rose to 6.2% of GDP, almost twice as much as ten years ago, showing that more Indians are borrowing to meet their…
