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Indians are SAVING less since COVID.
Here’s why ↓
Net household savings in India have dropped to a 5-year low.
It has fallen by ₹9 lakh crore in the last three years.
Reaching ₹14.16 lakh crore in 2022-23.
This is significantly lower than the peak of ₹23.29 lakh crore recorded in 2020-21.
⏪ The Reason
1. Rising inflation
↳ Increasing living costs is a reason for less disposable income for savings.
2. Economic recovery
↳ Feeling more comfortable taking on debt for bigger purchases like homes or cars.
3. Investment awareness
↳ The significant rise is also shown here.
⏪ For Businesses
👉 Businesses offering loans and financing options may see a rise in demand.
👉 Financial institutions and investment platforms can cater to the growing interest in mutual funds and stocks.
👉 If borrowing translates to increased disposable income, businesses could see a boost in consumer spending.
🙋 Honest Talk
If people are spending or investing in the right areas According to their Financial situation, Then is Okay.
If not, Then these numbers are a big blunder for us.
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