Indian households are indebted to a large extent due to the economic policies adopted by the Indian government during the late 1960s and 1970s, which led to a massive rise in the indebtedness of the Indian household.
This article explores the economic history of Indian households and the role of these policies in the rise in indebtedness.
According to the latest data from the World Bank, the average household in India owes a total of $1,835 in direct debt, with the average monthly household debt amount at $921.
In comparison, households in the US owe an average of $16,788 in direct household debt and a median monthly household income of $39,945.
The government, the Bank says, has used the government’s policies to boost the economy by increasing its GDP growth, encouraging investment, and raising productivity.
In recent years, India has seen a series of financial crises.
The first of these was in 2014, when the rupee collapsed by over 50% in a matter of days.
The second was in 2015, when over 1,500 banks collapsed, a huge event that had a devastating impact on the financial sector in India.
After the first wave of the financial crisis, Prime Minister Narendra Modi’s government took a series, aimed at curbing corruption, to tackle the growing problem of unaccounted money in the economy.
These measures helped India reach the threshold of economic development that the World Economic Forum had defined as a “highly advanced economy”.
However, the country is now facing the biggest crisis in its history.
According to the IMF, the rupees debt is more than twice the size of the global economy, a fact that led to the government having to step in and prop up the economy with a massive stimulus package that is estimated to have cost the economy $40 billion in 2017 alone.
A further factor that led the government to take drastic measures was the Indian public’s desire to be financially independent, a demand that has seen the number of Indian millionaires jump from 1.1 million in 2017 to 2.3 million in 2019.
Despite the recent financial crisis and the high unemployment rate, India is still considered to be a very prosperous country, with its gross domestic product growing by 3.4% in 2017.
India’s GDP per capita is around $11,000, which is well above the US’s $10,700.
However, its per capita income per person is lower, at $13,500.
What are the major problems facing Indian households?
According the World Development Indicators, India’s gross domestic income per capita in 2017 was $14,500, which ranks second behind the US, with $11.5 trillion in gross domestic products.
India’s unemployment rate is around 7.1% and its population is over 30 million.
However the real problem facing Indian householders is not the fact that they are indebted, but that they have been under the shadow of the government.
The Indian government has introduced numerous policies to help them, but these policies have not been sufficient to reduce their indebtedness or reduce their dependence on the government, as the following graph shows.
Since its inception, the government has set up a variety of schemes to help households, but it has failed to achieve the expected result.
Over the years, these policies and policies have been implemented in a variety, which includes: • Indebtedness reduction (through the elimination of foreign exchange reserves, a major tool for helping households), • Indirect lending to households, including in housing and construction, • Induced lending, whereby households borrow from banks and other financial institutions and are required to repay the loans at higher interest rates than those that they were initially offered.
• Induction of loans from households through direct or indirect channels, such as through income-generating schemes, • Loans to households through income tax refunds, and • Inductive loans, where the government guarantees the interest rate for the loan and the borrower pays the interest on the loan to the lender.
The government also has also introduced a new debt relief scheme to help low-income households.
How did India become so indebted during the past decade?
The Indian government was initially very cautious in tackling the financial and macroeconomic challenges that it faced.
However after the demonetisation of old Rs 500 and Rs 1,000 notes in November 2016, things began to change.
The country began seeing a boom in the real estate sector, which resulted in the construction of more properties and increased the amount of land available to buy.
The increase in the land prices also led to an increase in house prices, which was not as high before.
The real estate boom also resulted in an increase of the number and number of new millionaires in the country, which in turn led to more indebtedness in the Indian households.
This debt crisis is reflected in the fact, that over half of Indian families are currently in debt, which accounts for nearly $200 billion in direct and