Lok Sabha Question No. 143 (UNSTARRED), answered on 2025-12-01
Subject: Households Debt faster than creating Assets
Ministry: FINANCE
Asked by: Prof. Sougata Ray

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA UNSTARRED QUESTION NO.143

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

## Households Debt faster than creating Assets

## 143. Prof. Sougata Ray:

Will the Minister of FINANCE be pleased to state:

- (a) whether it is a fact that as per the Reserve Bank of India data, the Annual Financial Debt accumulated by Indian households has grown faster than their annual financial assets;
- (b) if so, the details of the household debt and assets since the last five years, State-wise and year-wise;
- (c) whether the households in the country show more interest on depositing in mutual funds; and
- (d) if so, the details thereof and if not, the reasons therefor?

## ANSWER

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

(a) & (b): As per the Reserve Bank of India, the stock of financial assets of households has increased from ₹228.7 lakh crore as on end-March 2021 to ₹352.6 lakh crore as on endMarch 2025. During the same period, the stock of financial liabilities increased from ₹77.7 lakh  crore  to  ₹136.6  lakh  crore.  The  year-wise  details  of  the  stock  of  financial  assets  and liabilities of households are presented below.

| Stock of financial assets and liabilities of households (₹ lakh crore)                | Stock of financial assets and liabilities of households (₹ lakh crore)                | Stock of financial assets and liabilities of households (₹ lakh crore)                | Stock of financial assets and liabilities of households (₹ lakh crore)                | Stock of financial assets and liabilities of households (₹ lakh crore)                | Stock of financial assets and liabilities of households (₹ lakh crore)                |
|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|
| Year-end                                                                              | Mar-21                                                                                | Mar-22                                                                                | Mar-23                                                                                | Mar-24                                                                                | Mar-25                                                                                |
| Financial Assets                                                                      | 228.7                                                                                 | 254.4                                                                                 | 278.4                                                                                 | 320.3                                                                                 | 352.6                                                                                 |
| Financial Liabilities                                                                 | 77.7                                                                                  | 86.2                                                                                  | 102.2                                                                                 | 121.0                                                                                 | 136.6                                                                                 |
| Growth in stock of financial assets and liabilities of households (Y-o-Y in per cent) | Growth in stock of financial assets and liabilities of households (Y-o-Y in per cent) | Growth in stock of financial assets and liabilities of households (Y-o-Y in per cent) | Growth in stock of financial assets and liabilities of households (Y-o-Y in per cent) | Growth in stock of financial assets and liabilities of households (Y-o-Y in per cent) | Growth in stock of financial assets and liabilities of households (Y-o-Y in per cent) |
| Year-end                                                                              | Mar-21                                                                                | Mar-22                                                                                | Mar-23                                                                                | Mar-24                                                                                | Mar-25                                                                                |
| Financial Assets                                                                      | 33.1                                                                                  | 11.2                                                                                  | 9.5                                                                                   | 15.0                                                                                  | 10.1                                                                                  |
| Financial Liabilities                                                                 | 11.2                                                                                  | 11.0                                                                                  | 18.5                                                                                  | 18.4                                                                                  | 12.9                                                                                  |

Source: RBI.

Note: Data for March 2025 is based on preliminary estimates as per RBI Bulletin, August 2025, Occasional Series Table 50(b).

(c) & (d): As per the Reserve Bank of India, the financial saving of households in mutual funds as a percentage of gross financial saving of the household sector, has risen from 2.1 per cent in 2020-21 to 13.1 per cent in 2024-25. The details are presented below.

| Year                                                                                                                    |   2020-21 |   2021-22 |   2022-23 |   2023-24 |   2024-25 |
|-------------------------------------------------------------------------------------------------------------------------|-----------|-----------|-----------|-----------|-----------|
| Financial saving of households in mutual funds (₹ lakh crore)                                                           |       0.6 |       1.6 |       1.8 |       2.4 |       4.7 |
| Gross financial saving of household sector (₹ lakh crore)                                                               |      30.7 |      26.1 |      29.3 |      34.3 |      35.6 |
| Financial saving of households in mutual funds as a percentage of gross financial saving of household sector (per cent) |       2.1 |       6.1 |       6.1 |       7   |      13.1 |

Source: NSO and RBI.

Note: Data for 2024-25 is based on preliminary estimates as per RBI Bulletin, August 2025, Occasional Series Table 50(a).

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