BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Public sector
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Private corporate sector
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Household sector
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Administrative sector
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Detailed explanation-1: -The correct answer is the household sector. Gross Domestic Saving consists of savings of household sector, private corporate sector, and public sector. The household sector is the largest contributor to domestic saving.
Detailed explanation-2: -The household sector is the major and largest contributor to savings in India.
Detailed explanation-3: -Domestic saving (Investment) of India is divided into two parts-Public Saving (Investment) and Private Saving (Investment). Private Saving (Investment) is further divided into two parts, those are Household Saving (Investment) and Corporate Saving (Investment).
Detailed explanation-4: -This is improving the financialisation of savings rate of Indian households, which is one of the highest in the world. At end-2021, the domestic savings rate of 29.3% was higher than the global average of 26.9%.
Detailed explanation-5: -Sector-wise GDP of India The services sector accounts for 53.89% of total India’s GVA of 179.15 lakh crore Indian rupees. With GVA of Rs. 46.44 lakh crore, the Industry sector contributes 25.92%. While Agriculture and allied sector share 20.19%.