Sunday, October 04
India's household savings continued their downward trajectory for the third straight year, slipping to 18.1 per cent of GDP in financial year 2024 (FY24), as per CareEdge Ratings. The report added that Gross domestic savings declined to 30.7 per cent of GDP in FY24 from 32.2 per cent in FY15.On the other hand, household financial liabilities surged to 6.2 per cent of GDP, nearly doubling over the past decade, reflecting growing reliance on credit amid consumption needs, the report observed.It highlights that despite the concerning savings trend, rural India offers a silver lining. Wage growth for rural male workers rose by 6.1 per cent year-on-year in February, outpacing rural inflation for the fourth consecutive month. This, along with easing food inflation and favourable agricultural pro
Realty major DLF Ltd will invest around Rs 5,500 crore to develop a luxury housing project in Gurugram, as it seeks to achieve record sales bookings this fiscal on high demand.According to sources, the company will soon launch an 18-acre project 'DLF Privana North' in Sector 76/77 Gurugram, comprising more than 1,150 apartments.The estimated cost to develop this project is around Rs 5,500 crore, they added. This upcoming project is part of its 116-acre township 'DLF Privana'.In this township, the company had last year launched and completely sold out two projects -- 'DLF Privana West' and 'DLF Privana South' -- for around Rs 12,800 crore.In May 2024, DLF sold all 795 apartments for Rs 5,590 crore within three days of the launch of its 12.57-acre project 'Privana West'.Before that, in Janua
