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Households saved less in Q2, spent on discretionary items: RBI bulletin

The flip-flop in flows of financial savings was not very different in advanced economies, where net financial savings rose sharply in Q1 and declined in Q2

inflation, food, vegetables, money, cash, expense, expenditure, prices, income, savings
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Addition to household savings in the form of currency had shot up to 5.3 per cent of GDP in Q1FY21

Abhishek Waghmare Pune
Financial savings of households, which had risen disproportionately in the April-June quarter of 2020 (Q1) as the economic activity came to a halt, fell back to their usual levels in Q2, official data showed on Friday.
 
In the quarter when the country was under a lockdown, net financial savings rose to 21 per cent of gross domestic product (GDP), according to the data released in the RBI’s monthly bulletin. In Q2, the net flow was 10.4 per cent of GDP.
 
Apart from a fall in financial assets, the drop was caused by a rise in liabilities (net savings

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