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Savings, profits, stocks can't stay high for long amid low income and interest rates

Things that cannot go on forever will not go on forever. There will be a change in the direction of the wind. One must hope it will be slow and calibrated, writes T N Ninan

Topics
Indian Economy | Weekend Ruminations | Gross Domestic Product (GDP)

T N Ninan 

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T N Ninan

You might have expected that a period when people’s incomes take a hit, and when companies lose business, would see also a fall in household savings and corporate profits. Well, you would have expected wrong. It turns out that household financial savings, usually about 10 per cent of GDP, were more than twice that level in the first quarter of this financial year (April-June). This, at a time when people were losing jobs and suffering pay cuts.

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First Published: Fri, November 13 2020. 19:49 IST

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