New Delhi, May 16 -- In the face of ever escalating household debt and economic challenges, families in India are re-analysing their financial goals and objectives.

The focus has now shifted on building robust emergency funds with a renewed emphasis on planning things efficiently. Recent data underlines the significance of this financial preparedness.

According to a recent report by Motilal Oswal Financial Services, household debt in India has surged to 43.5% of GDP in the first half of FY25, up from 37.9% in FY23. This increase is attributed to a serious rise in non-housing personal loans, which now constitute 32.3% of GDP.

Further, household net financial savings (HHNFS) have shown a modest recovery, rising to 7.3% of GDP in H1FY25 f...