Household savings marking a rise on higher incomes

Household savings as a share of India's GDP edged up to 21.7% in 2024-25 from 20% in 2022-23, reflecting an improvement in household financial security amid higher incomes and policy support, the government informed Parliament on Tuesday. In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said household savings, including physical savings, rose from Rs 52.25 lakh crore in 2022-23 to Rs 69.01 lakh crore in 2024-25, based on the new GDP series with 2022-23 as the base year released by the Ministry of Statistics and Programme Implementation.

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