Indian household savings can be broadly divided into two categories- 1.Financial Assets & 2.Physical Assets. Deposits, Insurance,PF,Equity & Mutual Fund and Bond are examples of Financial Assets . On the otherhand, Real Estate & Gold,Silver & Jewellery are Physical Assets.
|
Table 1: Composition of (Changes in) Gross Financial Assets
|
|
(per cent)
|
|
Period
|
Currency
|
Bank Depo
sits
|
Non- banking deposits
|
Life insu
rance fund
|
Provident and pension fund
|
Claims on Govern
ment
|
Shares & deben
tures
|
Units of UTI
|
Trade Debt (Net)
|
Gross Financial Assets
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7 |
8 |
9 |
10 |
11 |
|
1970s
|
13.9
|
45.6
|
3.0
|
9.0
|
19.6
|
4.2
|
1.5
|
0.5
|
2.7
|
100.0
|
|
1980s
|
11.9
|
40.3
|
4.6
|
7.5
|
17.5
|
11.1
|
3.9
|
2.2
|
0.9
|
100.0
|
|
1990s
|
10.3
|
34.7
|
6.8
|
10.1
|
18.8
|
9.5
|
7.0
|
3.8
|
-1.0
|
100.0
|
|
2000s
|
9.6
|
44.7
|
1.3
|
17.4
|
12.4
|
11.1
|
4.1
|
-0.5
|
0.0
|
100.0
|
|
(i) 2000-05
|
8.9
|
37.8
|
2.0
|
14.7
|
15.1
|
19.5
|
2.8
|
-0.9
|
0.0
|
100.0
|
|
(ii) 2005-11
|
10.7
|
49.9
|
1.7
|
19.9
|
10.3
|
3.5
|
4.3
|
-0.2
|
0.4
|
100.0
|
|
Table A: Average Annual Saving per Household
|
|
Age of Chief Earner of Household (in years)
|
Average Annual Savings per Household (in Rupees)
|
|
Less than 25
|
8,515
|
|
26-35
|
13,465
|
|
36-45
|
15,522
|
|
46-55
|
20,444
|
|
56-65
|
21,196
|
|
More than 65
|
17,011
|
|
Average
|
16,139
|
|
Source: Max Life New York - NCAER Survey (2007)
|
source: Reserve Bank of India