Household Savings Drop Over Rs 9 Lakh Crore In 3 Years Till 2022-23

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.

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.