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Household financial savings rate inch up to 7.2% of GDP

Savings in deposits by the households rose, however, to Rs 1 trillion (17 percent) in the year to Rs 6.91 trillion in FY14 as against Rs 5.91 trillion in 2012-13.

Households should be incentivised for higher savings: Rajan

Households need to be incentivised for enhancing financial savings, Chief Economic Advisor Raghuram G Rajan said here Monday.