LIVING FOR THE MOMENT?

Indians prefer stashing their cash to saving

IANS

Middle-class India loves blowing it up and would prefer keeping the cash to investing it. A survey released by Planning Commission Deputy Chairman Montek Singh Ahluwalia says 96 per cent Indian households cannot survive beyond a year in case they lose their sources of income and very few households invest in savings. While 78 per cent of the households are aware of life insurance, only 24 per cent households own a life insurance policy. [0904 hrs IST] 5 comments

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