The effects of the global financial meltdown are not restricted to the corporate sector, but have also precipitated to the savings and investment pattern of Indian households.
'Dealing with this setback is tough, but we hold onto faith, believing in the journey ahead.'
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
Kumar said that while the rise in percentage of population of the deprived castes has led to increase in the quotas for SCs, STs and OBCs from 50 to 65 per cent, his government also planned to undertake a number of welfare measures for the benefit of "94 lakh families", which according to the survey lived in abject poverty.