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The impact of the first wave of the pandemic on household finances

Paradoxically, household financial liabilities as a percentage of financial assets has gone down in 2020 

June 25, 2021 / 11:03 AM IST
The impact of the first wave of the pandemic on household finances

The Reserve Bank of India’s preliminary estimates of household financial savings for the October-December 2020 quarter enables us to consider the impact of the first wave of the pandemic on overall household finances. The first thing to note is that in the October-December 2020 quarter, households’ financial liabilities were 38.9 per cent of household financial assets, lower than what it was in the same quarter in 2019, before the pandemic started. Household financial liabilities were 39.3 per cent of financial...

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