**Executive Summary**
This document is a response to Unstarred Question No. 112 in Lok Sabha, answered on December 1, 2025, providing details on net financial savings per households in India since 2014. The response includes year-wise data on household net financial savings and financial liabilities as per cent of GDP, with preliminary estimates for 2024-25. The data is sourced from NSO and RBI, as per RBI Bulletin of August 2025.
**Key Points / Main Content**
* **Household Net Financial Savings:**
* Year-wise details of household net financial saving are provided for 2014-15 to 2024-25 in both INR lakh crore and as a percentage of GDP.
* Household net financial savings stood at 6.0 per cent of GDP in 2024-25, as per RBI Monthly Bulletin August 2025.
* **Household Financial Liabilities:**
* Year-wise details of household financial liabilities are provided for 2014-15 to 2024-25 in both INR lakh crore and as a percentage of GDP.
* Financial liabilities remained moderate and stable as a share of GDP until 2019-20 and peaked in 2023-24.
* Increase was driven by a rise in borrowings from financial institutions, with a large part resulting in physical assets creation.
* In 2024-25, both the absolute level and the share in GDP have declined.
**Impact Analysis**
**Stakeholder: Ministry of Finance**
* **Impact:** Required to provide detailed data on household financial savings and liabilities to address parliamentary questions.
* **Action Required:** Compile and present accurate data as requested, based on available sources (NSO and RBI).
**Stakeholder: Parliament (Lok Sabha)**
* **Impact:** Receives information on the financial health of households in the country.
* **Action Required:** Review the presented data to inform policy decisions.
**Stakeholder: Reserve Bank of India (RBI)**
* **Impact:** Providing data and analysis for the report.
* **Action Required:** Continue to monitor the financial health of households.
Key Entities Referenced
Reserve Bank of India (RBI): Referenced for its annual report and monthly bulletin, which provides data on household savings and liabilities as a percentage of GDP.
Ministry of Finance: The ministry responsible for answering the parliamentary question about net financial savings per households.
Financial Stability Report: An RBI publication referenced for explaining the increase in household financial liabilities.
National Statistical Office (NSO): Source of preliminary estimates data, as stated in the document.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
LOK SABHA
UNSTARRED QUESTION NO.112
TO BE ANSWERED ON MONDAY, DECEMBER 1, 2025 / Agrahayana 10, 1947 (Saka)
Net Financial Savings per Households
112. Shri Jagadish Chandra Barma Basunia:
Will the Minister of FINANCE be pleased to state:
(a) the details of net financial savings per households in the country since 2014, year-wise
and gender-wise;
(b) whether it is a fact that household savings were at 5.1 per cent of GDP as per Reserve
Bank of India (RBI) annual report in 2024-25, if so, the details thereof;
(c) the data of financial liabilities of households since 2014, year-wise; and
(d) the reasons for increasing financial liabilities?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)
(a): The year-wise details of household net financial saving since 2014-15 are given below.
2014- 2015- 2016- 2017- 2018- 2019- 2020- 2021- 2022- 2023- 2024-
Year
15 16 17 18 19 20 21 22 23 24 25*
In ₹ lakh
8.8 11.1 11.5 13.1 14.9 15.5 23.3 17.1 13.3 15.5 19.9
crore
As per cent of
7.1 8.1 7.4 7.6 7.9 7.7 11.7 7.3 5.0 5.2 6.0
GDP
* Preliminary estimates as per RBI Bulletin, August 2025, Occasional Series Table 50(a).
Source: NSO and RBI.
(b): As per the RBI Monthly Bulletin August 2025, the household net financial saving stands at 6.0
per cent of GDP in 2024-25.
(c) and (d): The year-wise details of household financial liabilities since 2014-15 are given below.
2014- 2015- 2016- 2017- 2018- 2019- 2020- 2021- 2022- 2023- 2024-
Year
15 16 17 18 19 20 21 22 23 24 25*
In ₹ lakh
3.8 3.9 4.7 7.5 7.7 7.7 7.4 9.0 16.0 18.8 15.7
crore
As per cent of
3.0 2.8 3.0 4.4 4.1 3.9 3.7 3.8 5.9 6.2 4.7
GDP
* Preliminary estimates as per RBI Bulletin, August 2025, Occasional Series Table 50(a).
Source: NSO and RBI.Household financial liabilities remained moderate and stable as a share of GDP until 2019-20, followed
by a sharp rise during and after the pandemic, peaking in 2023-24, reflecting increased reliance on
borrowings. As per the RBI’s Financial Stability Report published in December 2023, this increase was
driven by a steep rise in borrowings from financial institutions, with a large part resulting in physical
assets creation (mortgages and vehicles). In 2024-25, both the absolute level and the share in GDP have
declined, indicating early signs of deleveraging.
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