Finance Ministry is examining the suggestions of Bibek Debroy panel, which among other things had suggested phasing out separate railways budget, Parliament was informed on Friday. This indicated that "Indian households save more in physical form than in financial assets," Meghwal said. A panel headed by Bibek Debroy had suggested that the British-era legacy of having a separate railway budget should be done away with and it should be merged with the General Budget. "The Strong bullion preference of Indian households, along with the generally high inflation and inadequate access of banking and financial channels that prevailed during the last decade, to a great extent, explained the saving behavior of Indian households," the Minister added. A NSSO survey during January-December 2013 revealed that about 82.2 per cent of the rural households and 81.1 per cent of the urban households reported possession of bullion and ornaments.

Source: dna August 05, 2016 12:33 UTC