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Akshat kumar Jain

Front end developmen... • 5m

Indian household debt has skyrocketed, reaching Rs 120 trillion in March 2024, a 56% increase since June 2021. This has pushed the debt-to-GDP ratio to 42.9%, raising concerns about consumer spending. With housing loans comprising 30% and vehicle loans 10% of the total debt, and consumption loans growing significantly, rising interest rates are adding to the financial strain. This will push the inflation rate more and surely RBI will have to increase the repo rate. Will we see a decline in consumer spending. Will it affect the new age Startups.

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