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Individual wealth in India grows 9.62% in FY19:Report


The rise in wealth has marked higher domestic participation in the capital markets, mutual funds, making the trend a sustainable one, according to India Wealth Report 2019, published by Karvy Private Wealth.

Financialisation of household savings, a key to nation building, gathered pace in FY19 with individual wealth in financial assets rising double digit. The rise in wealth has marked higher domestic participation in the capital markets, mutual funds, making the trend a sustainable one, according to India Wealth Report 2019, published by Karvy Private Wealth.

Individual wealth in India grew by 9.62% in FY19 to Rs 430 lakh crore. The major growth rate of 10.96% was seen in financial assets as compared to physical assets, which grew by 7.59%, the report said.

“There has been a talk of increased financialisation of savings in the recent past. Evidence of this has been clearly seen in the last five years,” Karvy said. “The proportion of financial savings has gone up to 60.95% from 57.25% in last 5 years. “We expect a continued shift towards financial assets in India in near future as well.”



Read more at  https://economictimes.indiatimes.com/news/economy/indicators/individual-wealth-in-india-grows-9-62-in-fy19-report/articleshow/71652515.cms




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