2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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20.0%
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25.5%
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22.5%
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21.5%
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Detailed explanation-1: -MUMBAI: As people were forced to remain indoors for most of the year due to the lockdowns, there was an unlikely winner in the pandemic-ravaged year – household savings – which rose to 22.5 per cent of GDP from 19.8 per cent in 2019, according to a report.
Detailed explanation-2: -Gross domestic savings (% of GDP) in India was reported at 29.31 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources.
Detailed explanation-3: -It refers to currency, bank deposits, debt securities, mutual funds, pension funds, insurance, and investments in small savings schemes. The total of these savings is referred to as gross household financial savings.
Detailed explanation-4: -At end-2021, the domestic savings rate of 29.3% was higher than the global average of 26.9%. According to the RBI, the share of financial savings increased from 45% in fiscal 2016 to 52% in fiscal 2021, while that of physical savings fell from 55% to 48%.