No stress in savings, people buying homes, cars: Financial ministry

The finance ministry in India has stated that there is no distress in household savings, despite some discussions suggesting otherwise. The ministry argues that changing consumer preferences for different financial products is the main reason for the overall picture of household savings. Data shows that household gross financial assets increased by 37.6% between June 2020 and March 2023, while gross financial liabilities increased by 42.6%.

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