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Consider the following statements regarding household savings in India:
1. The net financial savings of households rose to Rs 17.1 lakh crore in 2022-23 from Rs 14.2 lakh crore in 2021-22.
2. Physical asset savings, including gold and ornaments, reached Rs 34.8 lakh crore in 2022-23.
3. The rise in household savings post-pandemic has led to a significant increase in liquidity within the financial system.
Which of the statements given above is/are correct?
  • a)
    1 Only
  • b)
    2 Only
  • c)
    2 and 3 Only
  • d)
    1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding household savings in India...
Statement 1 is incorrect. The net financial savings of households actually fell to Rs 14.2 lakh crore in 2022-23 from Rs 17.1 lakh crore in 2021-22, contrary to the statement.
Statement 2 is correct. Physical asset savings, including gold and ornaments, did reach Rs 34.8 lakh crore in 2022-23.
Statement 3 is incorrect. Although the rise in household savings post-pandemic has implications for the financial system, the text does not indicate that it has led to a significant increase in liquidity within the financial system.
Thus, the correct answer is Option B: 2 Only.
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Consider the following statements regarding household savings in India:1. The net financial savings of households rose to Rs 17.1 lakh crore in 2022-23 from Rs 14.2 lakh crore in 2021-22.2. Physical asset savings, including gold and ornaments, reached Rs 34.8 lakh crore in 2022-23.3. The rise in household savings post-pandemic has led to a significant increase in liquidity within the financial system.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)2 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding household savings in India:1. The net financial savings of households rose to Rs 17.1 lakh crore in 2022-23 from Rs 14.2 lakh crore in 2021-22.2. Physical asset savings, including gold and ornaments, reached Rs 34.8 lakh crore in 2022-23.3. The rise in household savings post-pandemic has led to a significant increase in liquidity within the financial system.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)2 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding household savings in India:1. The net financial savings of households rose to Rs 17.1 lakh crore in 2022-23 from Rs 14.2 lakh crore in 2021-22.2. Physical asset savings, including gold and ornaments, reached Rs 34.8 lakh crore in 2022-23.3. The rise in household savings post-pandemic has led to a significant increase in liquidity within the financial system.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)2 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding household savings in India:1. The net financial savings of households rose to Rs 17.1 lakh crore in 2022-23 from Rs 14.2 lakh crore in 2021-22.2. Physical asset savings, including gold and ornaments, reached Rs 34.8 lakh crore in 2022-23.3. The rise in household savings post-pandemic has led to a significant increase in liquidity within the financial system.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)2 and 3 Onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
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