Lok Sabha Question No. 112 (UNSTARRED), answered on 2025-12-01
Subject: Net Financial Savings per Households
Ministry: FINANCE
Asked by: Shri Jagadish Chandra Barma Basunia

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

UNSTARRED QUESTION NO.112

TO BE ANSWERED ON MONDAY, DECEMBER 1, 2025 / Agrahayana 10, 1947 (Saka)

## Net Financial Savings per Households

## 112.  Shri Jagadish Chandra Barma Basunia:

Will the Minister of FINANCE be pleased to state:

- (a) the details of net financial savings per households in the country since 2014, year-wise and gender-wise;
- (b) whether it is a fact that household savings were at 5.1 per cent of GDP as per Reserve Bank of India (RBI) annual report in 2024-25, if so, the details thereof;
- (c) the data of financial liabilities of households since 2014, year-wise; and
- (d) the reasons for increasing financial liabilities?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

- (a): The year-wise details of household net financial saving since 2014-15 are given below.
- (b): As per the RBI Monthly Bulletin August 2025, the household net financial saving stands at 6.0 per cent of GDP in 2024-25.

| Year               |   2014- 15 |   2015- 16 |   2016- 17 |   2017- 18 |   2018- 19 |   2019- 20 |   2020- 21 |   2021- 22 |   2022- 23 |   2023- 24 |   2024- 25* |
|--------------------|------------|------------|------------|------------|------------|------------|------------|------------|------------|------------|-------------|
| In ₹ lakh crore    |        8.8 |       11.1 |       11.5 |       13.1 |       14.9 |       15.5 |       23.3 |       17.1 |       13.3 |       15.5 |        19.9 |
| As per cent of GDP |        7.1 |        8.1 |        7.4 |        7.6 |        7.9 |        7.7 |       11.7 |        7.3 |        5   |        5.2 |         6   |

Source: NSO and RBI.

(c) and (d): The year-wise details of household financial liabilities since 2014-15 are given below.

| Year               |   2014- 15 |   2015- 16 |   2016- 17 |   2017- 18 |   2018- 19 |   2019- 20 |   2020- 21 |   2021- 22 |   2022- 23 |   2023- 24 |   2024- 25* |
|--------------------|------------|------------|------------|------------|------------|------------|------------|------------|------------|------------|-------------|
| In ₹ lakh crore    |        3.8 |        3.9 |        4.7 |        7.5 |        7.7 |        7.7 |        7.4 |        9   |       16   |       18.8 |        15.7 |
| As per cent of GDP |        3   |        2.8 |        3   |        4.4 |        4.1 |        3.9 |        3.7 |        3.8 |        5.9 |        6.2 |         4.7 |

* Preliminary estimates as per RBI Bulletin, August 2025, Occasional Series Table 50(a).

Source: NSO and RBI.

Household financial liabilities remained moderate and stable as a share of GDP until 2019-20, followed by a sharp rise during and after the pandemic, peaking in 2023-24, reflecting increased reliance on borrowings. As per the RBI's Financial Stability Report published in December 2023, this increase was driven by a steep rise in borrowings from financial institutions, with a large part resulting in physical assets creation (mortgages and vehicles). In 2024-25, both the absolute level and the share in GDP have declined, indicating early signs of deleveraging.

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