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HOUSEHOLDS’ DEBT SURGED TO NEW HIGH BY DEC. 2023

Why in the news? Household debt in India reaches 40% of GDP, while net financial savings drop to 5%, signalling rising financial distress. source:slideserve What is Household debt? Household debt is the total amount individuals owe creditors. Includes loans for consumer durables, housing, and personal expenses like education or medical bills. Requires fixed payments of …

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