Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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A drop in household savings has caused concern about economic recovery in the country.

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                            <p style="text-align:justify">-Scroll.in</p><p style="text-align:justify"><em>A drop in household savings has caused concern about economic recovery in the country.</em></p><p style="text-align:justify">On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-&rsquo;21. This covered the October-December 2020 period, which means the data captured the aftermath of first Covid-19 wave in India and the economic disruptions that containment measures such as lockdowns caused.</p><p style="text-align:justify">The numbers are disappointing with a sharp dip in the net financial assets of households. Not only does this point to the economic hit the Indian middle class has taken but it is also bad news for India&rsquo;s post-Covid economic recovery, given that it might mean reduced spending as well as a lower corpus available for investment.</p><p style="text-align:justify"><em>Net financial assets have dropped</em></p><p style="text-align:justify">The RBI tracks both household assets and liabilities. Assets include items such as bank deposits, provident funds and mutual funds investments, among others. Liabilities, on the other hand, are loans that a household has taken.</p><p style="text-align:justify">Net assets therefore are total assets minus liabilities. Note that &ldquo;household&rdquo; here refers also to unregistered businesses whose assets and liabilities are not counted as part of private corporate data.</p><p style="text-align:justify">From the first quarter of 2020-&rsquo;21 (April-June) to the third quarter (October-December), net financial assets dropped from 21% of India&rsquo;s gross domestic product to just 8.2% after two consecutive quarters of decline. Total assets also dropped: from 19% of GDP to 12.7%.</p><p style="text-align:justify">Please <a href="https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8" title="https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8">click here</a> to read more.&nbsp;</p>                                                           
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                            <p style="text-align:justify">-Scroll.in</p><p style="text-align:justify"><em>A drop in household savings has caused concern about economic recovery in the country.</em></p><p style="text-align:justify">On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-&rsquo;21. This covered the October-December 2020 period, which means the data captured the aftermath of first Covid-19 wave in India and the economic disruptions that containment measures such as lockdowns caused.</p><p style="text-align:justify">The numbers are disappointing with a sharp dip in the net financial assets of households. Not only does this point to the economic hit the Indian middle class has taken but it is also bad news for India&rsquo;s post-Covid economic recovery, given that it might mean reduced spending as well as a lower corpus available for investment.</p><p style="text-align:justify"><em>Net financial assets have dropped</em></p><p style="text-align:justify">The RBI tracks both household assets and liabilities. Assets include items such as bank deposits, provident funds and mutual funds investments, among others. Liabilities, on the other hand, are loans that a household has taken.</p><p style="text-align:justify">Net assets therefore are total assets minus liabilities. Note that &ldquo;household&rdquo; here refers also to unregistered businesses whose assets and liabilities are not counted as part of private corporate data.</p><p style="text-align:justify">From the first quarter of 2020-&rsquo;21 (April-June) to the third quarter (October-December), net financial assets dropped from 21% of India&rsquo;s gross domestic product to just 8.2% after two consecutive quarters of decline. Total assets also dropped: from 19% of GDP to 12.7%.</p><p style="text-align:justify">Please <a href="https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8" title="https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8">click here</a> to read more.&nbsp;</p>                                                           
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A drop in household savings has caused concern about economic recovery in the country.

On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-&rsquo;21. This covered the October-December 2020 period, which means the..."/>
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A drop in household savings has caused concern about economic recovery in the country.

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    <h1 class="cat-box-title">How Covid-19 hurt household savings in India -Shoaib Daniyal</h1>
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                            <p style="text-align:justify">-Scroll.in</p><p style="text-align:justify"><em>A drop in household savings has caused concern about economic recovery in the country.</em></p><p style="text-align:justify">On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-&rsquo;21. This covered the October-December 2020 period, which means the data captured the aftermath of first Covid-19 wave in India and the economic disruptions that containment measures such as lockdowns caused.</p><p style="text-align:justify">The numbers are disappointing with a sharp dip in the net financial assets of households. Not only does this point to the economic hit the Indian middle class has taken but it is also bad news for India&rsquo;s post-Covid economic recovery, given that it might mean reduced spending as well as a lower corpus available for investment.</p><p style="text-align:justify"><em>Net financial assets have dropped</em></p><p style="text-align:justify">The RBI tracks both household assets and liabilities. Assets include items such as bank deposits, provident funds and mutual funds investments, among others. Liabilities, on the other hand, are loans that a household has taken.</p><p style="text-align:justify">Net assets therefore are total assets minus liabilities. Note that &ldquo;household&rdquo; here refers also to unregistered businesses whose assets and liabilities are not counted as part of private corporate data.</p><p style="text-align:justify">From the first quarter of 2020-&rsquo;21 (April-June) to the third quarter (October-December), net financial assets dropped from 21% of India&rsquo;s gross domestic product to just 8.2% after two consecutive quarters of decline. Total assets also dropped: from 19% of GDP to 12.7%.</p><p style="text-align:justify">Please <a href="https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8" title="https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8">click here</a> to read more.&nbsp;</p>                                                           
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How Covid-19 hurt household savings in India -Shoaib Daniyal

Published on Jun 27, 2021   Modified on Jun 28, 2021

-Scroll.in A drop in household savings has caused concern about economic recovery in the country. On Wednesday, the Reserve Bank of India released data on household savings for the third quarter of 2020-’21. This covered the October-December 2020 period, which means the data captured the aftermath of first Covid-19 wave in India and the economic disruptions that containment measures such as lockdowns caused. The numbers are disappointing with a sharp dip in the net financial assets of households. Not only does this point to the economic hit the Indian middle class has taken but it is also bad news for India’s post-Covid economic recovery, given that it might mean reduced spending as well as a lower corpus available for investment. Net financial assets have dropped The RBI tracks both household assets and liabilities. Assets include items such as bank deposits, provident funds and mutual funds investments, among others. Liabilities, on the other hand, are loans that a household has taken. Net assets therefore are total assets minus liabilities. Note that “household” here refers also to unregistered businesses whose assets and liabilities are not counted as part of private corporate data. From the first quarter of 2020-’21 (April-June) to the third quarter (October-December), net financial assets dropped from 21% of India’s gross domestic product to just 8.2% after two consecutive quarters of decline. Total assets also dropped: from 19% of GDP to 12.7%. Please click here to read more.

Scroll.in, 27Jun, 2021, https://scroll.in/article/998546/how-covid-19-hurt-household-savings-in-india?fbclid=IwAR2v6HzbxLyuSgdGA34m0wO-3529EYP3Oz4P2upcr2YirjP8dOd5K7qfrJ8

Tagged with: Reserve Bank of India RBI Net Financial Assets Liabilities Mutual funds Term deposits Fixed deposits Middle class BPL

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