The UPA's mal administration and its wrong conomic policies have driven the people to save more in physical assets than in Financial assets. The inflation has virtually killed the spirit of people to live is not an exaggeration.The inequality created during the last ten years of ruling by the UPA has created a class of people with lot of wealth and they have all their savings in Gold and real assets which can be easily acquired by black money. Investments in these categories of assets which are unproductive as far as economy is concerned, brought down the GDP growth drastically affecting the poorest sections of the society and the middle class. The damage done by the wrong administration by the UPA government is not easily repairable and the new Government will have a very tough time and will have to take very tough decisions without favouring the high and mighty of the country to put back the economy on the growth trajectory..
(This comment is in response to the article Household savings More in physical and not in Financial assets that appeared in Business Standard on 1st June 2014.)
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