Household savings dip over Rs 9 lakh crore in 3 years to Rs 14.16 lakh crore in 2022-23


NEW DELHI: Net family savings declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23, in accordance to the newest (*9*) Account Statistics 2024 of the Ministry of Statistics and Programme Implementation. The web family savings peaked at Rs 23.29 lakh crore in 2020-21. These have been on the decline since then, the info confirmed.
The web family savings declined to Rs 17.12 lakh crore in 2021-22 and dipped additional to a five-year low of Rs 14.16 lakh crore in 2022-23.
The earlier low of web family savings was Rs 13.05 lakh crore in 2017-18 which elevated to Rs 14.92 lakh crore in 2018-19 and Rs 15.49 lakh crore in 2019-20.
The information confirmed that the funding in mutual funds virtually 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 family funding in shares and debentures virtually doubled to Rs 2.06 lakh crore in 2022-23 from Rs 1.07 lakh crore in three years from 2020-21. It was Rs 2.14 lakh crore in 2021-22.
Bank advances (loans) to households have additionally doubled in three years to Rs 11.88 lakh crore in 2022-23 from Rs 6.05 lakh crore in 2020-21. It was Rs 7.69 lakh crore in 2021-22.
Loans to households by monetary companies and non-banking monetary companies elevated additionally fourfold to Rs 3.33 lakh crore in 2022-23 from Rs 93,723 crore in 2020-21. It was 1.92 lakh crore in 2021-22.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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