Net financial obligations for families in the 24th year

The net financial obligations of Indian families have increased to the highest new level of 18.79 rupees in the 24th fiscal year, and it greatly includes bank progress, even when net financial savings reached the levels of 15.51 rupees for Cham.

Data, which is part of the 2025 national account statistics, which the Ministry of Statistics and Program Implementation issued, highlights the important financial affairs of families, which is a major source of local financing.

This indicates the increasing benefit from families, net financial obligations grew by 17.7 % in the fiscal year 24 of 15.96 rupees in the 23rd fiscal year. In the 24th fiscal year, families’ dependence on banking progress was higher compared to the 23rd year. As a result, out of the net financial liabilities of 18.79 rupees in the fiscal year 24, was 18.56 crores. On the other hand, in fiscal year 23, banking progress reached 11.91 rupees for Cham.

Meanwhile, household savings grew in fiscal year 24 to 15.51 rupees, which represents an increase of 16.51 % than 13.31 rupees in the 23rd fiscal year. This is higher than 15.49 rupees in the fiscal year 20, but it remains much lower than 23.29 rupees in the fiscal year 21 during peak.

After home savings have eroded concerns about the financial situation of families and in recent months, there have been fears of poor demand for consumption due to low savings and slow wages. As a result, this data has been closely monitored by politics and experts since the Covid-19s.

Morgan Stanley pointed out in a recent report that the current level of family debt can be controlled: “We expect the growth of the debts of families to continue to grow in the growth of the nominal GDP as a reflection to improve credit penetration.

He pointed out that the high retail loans was the main driver for after birth, which led to fears of excessive amount.