India's household debt servicing costs among the lowest in the world
Indian households' net financial savings fell by up to four percentage points in the past two years, as they built real assets like homes and vehicles. This has raised indebtedness, but economists say their ability to service debt is high compared to many major economies. Official data shows that household net financial savings fell to 5.1% of GDP in 2022-23, well below its long-run annual average of 7.0-7.5%.
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