pattern of the people under observation, to determine
relationship between expectation of returns and miserliness, to
determine the factors influencing the reason for saving, to
study the purpose of saving along with income distribution,
to study the contribution of insurance to savings and to study
the factors influencing the choice of insurance companies
and products.
I. INTRODUCTION
1.1 SAVING IN INDIA
stark(a) Domestic Saving (GDS), as a proportion of rude domestic product at
current trade prices, increased from 26.1 per cent in 2002-
03 to 28.1 per cent in 2003-04, reflecting improvement
across all the orbits
1
. The domicile sector continued to be
the major contributor to gross domestic saving at 24.3 per
cent in 2003-04 as compared with 23.3 per cent in 2002-03.
For the last five years, the home base sector has shown a
preference for saving in the form of physiologic assets relative
to financial assets. This could be attributed partly to the soft
involution rate prevailing in the housing sector in recent years.
Household savings in the form of financial assets as a
percentage of GDP at market prices worked out to 14.
0 per
cent in 2003-04 as against 13.1 per cent in the previous year.
On the other hand, financial savings of the household sector
in the form of Life insurance money has been declining from
15.5 per cent in 2002-03 to 12.8 per cent in 2003-04 and
further to 12.4 per cent in 2004-05. Deposits continue to
dominate financial saving of households with its treat
increasing to 42.9 per cent in 2003-04 from 41.5 per cent in
2002-03. some(a) of the other major components of financial
savings were contractual savings, in general life insurance funds
at 12.8 per cent. The households preference to elflike savings
has been growing as...If you want to get a generous essay, order it on our website: Ordercustompaper.com
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