Chaos

India’s savings crisis

Household savings in India have been in a tailspin over the past five years, hitting a nearly two-decade low. The household savings rate stood at 17.2% of gross domestic product in 2017-18; that’s only marginally up from 17.1% in 2016-17, which was the lowest since 1996-97, and the savings rate has dropped in almost every year since 2011-12, when it was 23.6% of GDP. Why does this matter? The domestic […]

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