SOFTSPUN Microfiber Cleaning Cloths, 4pcs 40x40cms 340GSM Multi-Colour! Highly Absorbent Lint and Streak Free Multi -Purpose Wash Cloth for Kitchen Window Stainless Steel Silverware.
₹247.00 (as of September 27, 2023 00:30 GMT +05:30 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
A #debt is a #bet on the #future, on the “assumption” that things would remain the same over the tenure of the #loan. As #economists put it, Ceteris paribus, or “all other things being unchanged or constant”.
However, “things” do change when there #events like #war, #pandemic, or in the #indian context, #political and #social #instability, throwing the #economy off-balance.
In such cases, #interestrates fluctuate due to #inflation, #mismanagement, and outright #economic #collapse, as our “not so friendly” #neighborhood shows, with #pakistan and #srilanka being examples.
This is when a #debtcrisis hits, and as this #article explains, #india is “drowning in #debt”, right from the #centralgovernment to the #states, and down to the average Indian.
Worse, a “staggering” 2 Trillion #rupees make up the #creditcarddebt, having risen by 30% over the #lastyear. Essentially, the #indiastory is an “empire of #debt” that can “pop” anytime.
Given record #unemployment and gross #inequities, the “hit” would be on the #poor, as we all “know” what happens to “well connected” #borrowers, who are anyway on the “right side” of the ruling dispensation.
