This study aims to explore the intricate relationship between economic growth and demographic change in India, emphasizing over two core variables:- Income as the primary determinant and savings as the secondary. Over the past two decades India has witnessed significant demographic transitions marked by rapid urbanization, a growing working age population and evolving consumption and saving patterns. With the help of the secondary data from 1992-2022 obtained from numerous sources like Reserve Bank Of India, World Bank etc. This study analyses how demographic changes influence income generation and savings behavior and how these in turn result in economic growth. This research includes quantitative methods, trends, regression analysis, correlation analysis, to determine the interdependence between income levels and saving rates with respect to demographic factors. This study also notes emerging challenges such as:- rising consumption, income inequality, aging population etc. which may affect future savings and growth stability. Hence, this dissertation concludes that inclusive income growth, improved financial literacy and effective use of household savings are vital for maintaining India’s economic growth.