Calculating net worth is a crucial financial step to evaluate your assets and liabilities. Simply put, net worth is the difference between what you own and what you owe. Knowing your net worth empowers you with a clear picture of your financial health.
In India, understanding net worth is essential for making sound financial decisions. It enables you to assess your financial progress, plan for future investments, and secure loans. Historically, net worth calculation gained prominence with the advent of GST, emphasizing the importance of asset and liability management.