Household liabilities rise to 6.4% of GDP in FY24

THE NET FINANCIAL liabilities of India's households went up to ₹18.79 lakh crore in FY24, or 6.4% of GDP, a rise over the previous year's 15.96 lakh crore, or 5.9% of GDP, data from the Reserve Bank of India (RBI) showed.

At the same time, the net financial assets of households went up to 15.52 lakh crore, or 5.3% of GDP. This still appears to be a five-decade low, although an improvement over the 5% of GDP in the previous year when the assets stood at ₹13.40 lakh crore.