Demographic Change and Private Savings in India

India is on the edge of a demographic revolution with rapidly rising working-age population. For first time in this study, we investigate role population per capita small savings post offices and banks net socio-economic characteristics using state-level panel data compiled from multiple sources for period 2001-2018. Our comprehensive econometric assessment robustness checks provide three key findings: (1) Per private increasing because India’s growing population, thus ‘economic life cycle hypothesis’ supported. (2) The factors contribute around one-fourth inequality across Indian states. (3) window economic opportunity can yield maximum benefits terms when accompanied by favourable policies education, health, gender equity, growth.