#Economy
Although I have talked about this in @twains_sawyer's spaces on several occasions. Here's a thread on the train wreck we are heading towards:
1. Household savings were at its lowest in five decades in 2023.
m.economictimes.com
Although I have talked about this in @twains_sawyer's spaces on several occasions. Here's a thread on the train wreck we are heading towards:
1. Household savings were at its lowest in five decades in 2023.
m.economictimes.com
2. The Modi era has seen a steady increase in household debt. Debts other than real estate appear to have contributed more to the surge than actual real estate.
I have taken the image from @PankajPachauri's recent post. Check it out as well, please.
I have taken the image from @PankajPachauri's recent post. Check it out as well, please.
@PankajPachauri 3. There are many reasons for the growing debt-to-GDP in spite of a growing working-class population, including taxes, a change in the public's perception of investments, lack of jobs in the formal sector, or increased consumption. Each of them requires a detailed investigation.
@PankajPachauri 4. India's personal tax rate has increased significantly.
Contrary to some Western democracies, taxpayers do not even receive free healthcare, free education, or high-quality infrastructure.
livemint.com
Contrary to some Western democracies, taxpayers do not even receive free healthcare, free education, or high-quality infrastructure.
livemint.com
@PankajPachauri 5. High inflation also contributes to reduced household savings.
m.economictimes.com
m.economictimes.com
@PankajPachauri 6. The government cites increased consumption and investment as justifications for the growing household debt, which is true in case of mutual funds.
livemint.com
livemint.com
@PankajPachauri 7. However, only an estimated 8% of the population invests in mutual funds. So, while the government's argument is surely a factor, it doesn't explain the entire story.
jamawealth.com.
jamawealth.com.
@PankajPachauri 8. When you learn that foreign direct investment (FDI) has decreased in India, all the claims of a strong economy seem dubious.
google.com
google.com
@PankajPachauri 11. There has been a decline in private investment across several industries.
m.economictimes.com
m.economictimes.com
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