Households' Wealth Touches All Time High!

September 28, 2024 09:08

The net financial wealth of households has reached an all-time high of 115.9 percent of India's Gross Domestic Product in the quarter ended June 2024 (Q1FY25), said Motilal Oswal in a research report on Friday.

Households' gross financial assets have grown at a fast pace since the pandemic while household debt has remained consistent with the pre-pandemic period.

According to the report, household gross financial assets reached a peak of 157.9 percent of GDP in Q1FY25, surpassing the previous high of 152.9 percent recorded in Q4FY21.

Prior to the pandemic, household financial assets were 123 percent of GDP.

Meanwhile, household financial liabilities remained stable at 42 percent of GDP in Q1FY25.

The research report shows household debt stood at Rs 127 trillion in Q1FY25 from Rs 106 trillion in Q4FY23. Debt was 35 percent of GDP in the pre-pandemic quarters. -- Subrata Panda/Business Standard

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