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Households’ extra savings hit $300 billion after covid 2.0: UBS

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NEW DELHI : Indian households during the two covid waves since last year have ended up with an “extra savings" pile of as much as $300 billion, according to a report by UBS Securities India Pvt.

Ltd. Indians were expected to save around $200 billion for the 18-month period till the June 2021 quarter. However, overall savings stood at $500 billion.

As per the report, the slowdown in spending by households through the lockdowns last year resulted in $200 billion extra net savings. “In our inaugural report, we quantified the ‘extra’ savings at $200 billion as of September 2020.

While that had begun to unwind in subsequent quarters, second wave-related savings in the June 2021 quarter have led this ‘extra’ savings pile to rise to $300

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
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Cases: 34 321 025
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Brazil
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Deaths: 141 607
Recovered: 0
Russia
Russia
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Deaths: 237 619
Recovered: 0
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