Indian Salaried Class Drives Economic Growth Through High Savings Rates
Saving motive is the desire to set aside money for future needs. Factors like income and willingness to save affect how much households save. In India, people save a lot of their income, around 32% of the country's GDP, despite low income and high inflation. A study looked at how much Indian salaried people save and found a link between their saving motives and actual savings. The more motivated people are to save, the more they save.