India 2020 economy crisis India

The conundrum of financial distress and higher household savings amid covid

Reading now: 274
www.livemint.com

₹8.16 trillion. For a perspective on how big this is, in April-June 2019, household financial savings was ₹2.02 trillion; in July-September 2019, it was ₹4.85 trillion and in the two following quarters it was ₹4.2 trillion and ₹5.14 trillion, respectively.As a percentage of gross domestic product (GDP), this looks more humongous.

It was 21% of GDP in April-June 2020 (the lockdown quarter) against 4% of GDP in April-June 2019. In the three following quarters, it was 9.8%, 8.1% and 9.8%, respectively.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA