I have noticed it recently. My office colleagues , some of them even drawing lesser salary than me, buying iPhone in EMI, going to Bangkok taking personal loan, buying expensive clothes and many more things. This is good for the economy, but bad for them. No concept of emergency fund, or systematic saving. I was out of work for almost a year due to my father's illness. My emergency fund managed to cover all those expenses in that period.
@KijjiSale
5 ай бұрын
Average $5 wages a day not much is a left after food and rentn, no wonder half Indians still lives in slums and is still a very poor and undeveloped third world country
@indocanadianadventure
5 ай бұрын
May be basic maths skill loss.
@kishanbhatt62
5 ай бұрын
True
@IamJaiG
5 ай бұрын
Wrong mindset. You have emergency fund saving that's why you have taken a year long leave otherwise you would have worked double duty to earn more money. Savings makes you relax and secure. You will be in a comfort zone. Only insecurity pushes you out of your comfort zone and makes you work hard for the expenses.
@abisheikabi8610
5 ай бұрын
@@IamJaiGwhen you work under pressure chances are you may get a heart attack or BP etc. Also possibility of taking rash decisions
@onlydilip8124
5 ай бұрын
Middle class income is getting decreased due to high rates and taxation
@Dattebayo3089
5 ай бұрын
The worst thing is now elss, ppf, hra and many schemes not part of taxation 😢. All schemes they added to save taxes are only good for Businessmen who do most of their transactions with cash.
@Ishanth788
5 ай бұрын
Middle class is pushed to upper poor class
@pranil135
5 ай бұрын
I think the worst is real estate, which is overpriced in a lot of city.
@Apache1970
5 ай бұрын
Modiji and his government treat the middleclass as rich. Just look at Ayushman Bharat health insurance's eligibility criteria.
@dukhi_aatma372
5 ай бұрын
high rates of what?
@myfav51
5 ай бұрын
INDIA is no longer a joint family but instead moving out and living by themselves in which the spending increases and savings deplete , it is again an hallmark of western influence , as said we need to balance and have a rule to SAVE 20 % of your take-home money
@dragonsexy30
5 ай бұрын
True adding people not willing to live with what they have especially father and mother , ask the child who got insulted by their own parents
@luisfernando5998
5 ай бұрын
Nah they need to invest in bitcoin
@Good-Life15
5 ай бұрын
@@dragonsexy30 yeah fkkkk them
@samirbhalerao5579
5 ай бұрын
I was able to save much more than 20 % as time went by and salary increased over the years. Saving gives a very strong hold in these times of inflation, possible future job losses, defence against AI etc.
@m11nt
5 ай бұрын
Stop blaming everything on western influence
@zshn
5 ай бұрын
"Everything is fine" - we've heard that before. Debt looks good, but even the highly educated get wrecked by it.
@rishikeshpatel7837
5 ай бұрын
Indians are mimicing American way of living on loans, but people in India are forgetting that Indian currency is not in control as much as US currency is in the world
@techihandle
5 ай бұрын
That's actually beneficial for people who take loan
@allyraj99
5 ай бұрын
We are aping mindlessly the west, where they have social security backed by the government. And here even quality health and education are dream. We have most polluted cities in the world, and very less health insurance cover, one hospital bill can bring us to square one.
@romeoLucia189
5 ай бұрын
The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.
@LilianaAgnes
5 ай бұрын
Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!
@LilianaAgnes
5 ай бұрын
Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
@otmanMaya513
5 ай бұрын
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
@aakashchheda8688
5 ай бұрын
It's fine and not to worry too much about the losses... You have only one option to hold ur stocks and wait until portfolio turns green and then take the exit and reinvest in another stock with highest returns in future.. 👍
@hisherblend
4 ай бұрын
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@IamJaiG
5 ай бұрын
One thing is missing in your report Palki ji.. That is the loan repayment ratio. From that any one can easily calculate that it is a debt dangerous or Surge in Purchasing.
@shrutiagrawal3777
5 ай бұрын
We can't calculate loan repayment ratio of the new surge in loans yet. Only time will tell if the current surge was due to overconfidence without actual income backing or due to actual growth!
@Ishanth788
5 ай бұрын
When a recession hits, all the confidence from the new India will break like a glass.
@uTube00789
5 ай бұрын
Yup. People are flying high on fragile things. "Unicorns" blah blah. Everything is based on consumption. No high tech manufacturing, no high tech intellectual property.
@khudafarishta3101
5 ай бұрын
But recession has already uit UK Germany etc us is kn verge
@uTube00789
5 ай бұрын
@@khudafarishta3101 Yes. India follows US after few years. US has already lost charm of "startup", free VC money (India still celebrating "valuation" games). If we learn from US, these things are not sustainable.
@khudafarishta3101
5 ай бұрын
@@uTube00789 true but currently biggest problem and headaches are k2vas main hindering in indias growth
@shivamthakur6597
5 ай бұрын
@@uTube00789 bro us having all time high start ups now... what r u even talking about..
@NatiaMaisuradze-ey5iq
5 ай бұрын
The way history repeats itself in financial markets is quite intriguing. Artur Grandi's book gives a clear formula for stabilizing investments and suggests areas for investment, like cryptocurrencies.
@ashokreddy7211
5 ай бұрын
Indian moms laughing from corner. Indians Moms: Gold is secret of our energy 😂
@pennyc8252
5 ай бұрын
How much gold they can have. It commodity n Indian women won't sold their gold until dead😮
@rajgardenbudsofhappiness6398
5 ай бұрын
The pandemic was the biggest lesson for every human being. Think wisely & spend wisely.
@rasagem
5 ай бұрын
"People are taking loans to buy assesets like cars and real estate". Since when has car become an asset ma'am?
@manvirbhatti4999
4 ай бұрын
It's an assest but in the form of depreciate assest
@Bhairavvvv
5 ай бұрын
So for the finance minister car is an asset instead of liability 😅
@1Minute_Magic
5 ай бұрын
😂😂
@bijuedayadi
5 ай бұрын
😂😂😂
@professorarjun1234
4 ай бұрын
It can be both, depending upon situation. Only speaking in financial term i.e resale value it is liability,.. but real world doesn't work like that.. Having a car if required in a Family can work as asset as well. (not as resale value) Buying car when NOT required is definitely a liability, but buying car for necessity, will definitely help saving time and lives as well, and both of these are assets as well. it depends on usage. just like clothes, they are liability, but definitely you step outside w/o them it will be bad for your skin. Buying unnecessary clothes is liability. Have broader perspective
@Bhairavvvv
4 ай бұрын
@@professorarjun1234 car is a liability because it's value depreciates with time
@user-xm9dq7xd2q
4 ай бұрын
Yes cars are assets, they are Tangible assets.
@allandnothing5987
5 ай бұрын
In this dark age of Kaliyug, people are completely deluded in Maya/Illusion. Lack of inner happiness and contentment coupled with selfish capitalist companies and destroying Indians and humans as a whole.
@SatendraYadav-rb2un
5 ай бұрын
Are yaar tu pehle ramayan Mahabharat or panchtantra ki kahaaniyo se bahar aa, fir baat kar😂😂😂
@Karan-kw9bt
5 ай бұрын
kuch bhi bu s kalyug keh do aur move on karo . bharatt ke log past m jeete hai
@SatendraYadav-rb2un
5 ай бұрын
@@Karan-kw9bt True, and with this mindset they are day dreaming of becoming world power 😂
@Karan-kw9bt
5 ай бұрын
@@SatendraYadav-rb2unthe truth is that Indians look into the past very often while western countries and China are future seekers and want to control the world. India can't be a superpower unless it stop this bullshit talking on Maya illusion and accept the truth the world exists and the world as a reality and problems can be solved.
@RishiSharma-gq4jj
5 ай бұрын
Oh yes
@vb823
5 ай бұрын
This is alarming Not good for society
@abinayavevo8533
5 ай бұрын
Please do a video on how much money does Indians spend in gambling apps like betting, rummy etc
@mohanrao6
5 ай бұрын
Why india is promoting Gambling ? And why not legalise it ? Will get 30% tax
@debajyotideyneogy123
5 ай бұрын
Car is not always an asset. If you are earning a profit from your car considering all expenses, opportunity cost and depreciation, then it may be considered as asset. Otherwise it is a liability 😊
@lordsnow-vg6ek
5 ай бұрын
We not have much money for buying a popper house or marriage still my parents decided to buy car worth 11 lack paying 43% tax just for social validation
@37sairam
5 ай бұрын
Sad reality
@budhrajarahul3
5 ай бұрын
Y do u want to get married in the first place? Ur parents seems modern😂
@SuperArindam1982
5 ай бұрын
Very rare to see other wise it is other way round. Will pray to God that your parents get trap understood at earliest.
@budhrajarahul3
5 ай бұрын
@@SuperArindam1982 you are a boomer both by face & words..
@truthseeker327
5 ай бұрын
car is good tho
@jagan_94
5 ай бұрын
Savings are worthless, inflation is at 7-8% and fd rates are 6-7%, better to park 6 months of emergency fund rest invest all in asset. (MF, Land, Gold, Bonds)
@johngokul4521
5 ай бұрын
Atleast you have saving Bro
@mazy0rana
5 ай бұрын
If you want to hedge against fiat, then bitcoin, gold.
@raghavaggarwal7624
5 ай бұрын
FD's are above 8% right now, and it is not a long term instrument, so if it is able to cope with inflation, everything is rosy.
@kanya-7x
5 ай бұрын
Which you think is best investment ( bonds, real state, Gold or any other investment ??? , bcz I'm mdcal student don't know much about it....!
@mazy0rana
5 ай бұрын
@@kanya-7x Bluechip stocks (if you believe our country is on a growing path ) gold (digital one ) and do invest some assets in fixed deposits, real estate (not everywhere real estate gives a good return, and liquidity can be an issue sometimes). last but not least allocate some money you can afford to lose on Bitcoin(only Bitcoin no other crypto). I am talking here long-term, don't get afraid of short-term fluctuations.
@teejayman215
5 ай бұрын
Just yesterday in all the videos indians were saying indians make more money than Americans
@thebrave354
5 ай бұрын
Maybe 0.5 % Indians
@Homie5151
5 ай бұрын
Indians lying as usual. It would be better if they focus on surpassing Bangladesh in terms of gdp per capita.
@fernandovazquez7272
4 ай бұрын
Doubt it, these Indians are taking on hella loans Can’t even imagine the student loans they have
@NeuroMuscle
5 ай бұрын
20 years back houses were on saved money But today it is 90 percent loan .Owner is not owning.
@allahuakbarquran742
5 ай бұрын
Yeah but indians who sent their children to Britain or Australia will tell their friends in India that their children have bought homes...liars
@dukhi_aatma372
5 ай бұрын
An another report few weeks back said Indian middle class now have a lot of disposable cash and that is driving the sale of luxury brands in India. In fact purchases by Indian middle class is at an all time high. Why do we have contradictory reports?
@studywithankush1869
5 ай бұрын
I think that disposable cash is from loans
@ngundu86
5 ай бұрын
😂😂😂😂😂😂@@studywithankush1869
@ninjaamara8053
5 ай бұрын
Western influence 😂😂😂
@Nick-kk9ei
5 ай бұрын
Exactly.
@abhinavpawar6794
5 ай бұрын
Modi guarantee 😂
@anuvabmandal9776
5 ай бұрын
Spot on.
@githvfyzhub
5 ай бұрын
Definitely
@pervysage_jiraiyaa
5 ай бұрын
Soon in india , people living on road will be quiet common thing.
@allahuakbarquran742
5 ай бұрын
Not all people...only those dumb people who took more loans those who bit more than they could chew
@calculateyourworld6091
5 ай бұрын
Savings have no meaning now a days. Increasing inflation, inconsistent situation, people tend to enjoy the present, with Maximum comfort. Parents became very liberal, and a large amount is spent by non income students /young generation also.
@allahuakbarquran742
5 ай бұрын
You will understand the meaning of savings only when shittt hits the ceiling! Parents aren't liberal but have been acting like liberal because they know very well that their children would be soon on the streets...living in the present is like being a fool
@InvictusCoaching
5 ай бұрын
What does India expect capping interest rates at just 5%. Bring back 15 to 20% interest and people will start saving again
@abinayavevo8533
5 ай бұрын
The rise of gambling apps leads to unsecured loans. Government should restrict these but however they get 30% tax so they won't stop these apps.
@VikashKumar-ud3nn
5 ай бұрын
Do you mean trading or dream 11
@notout841
5 ай бұрын
True)
@abinayavevo8533
5 ай бұрын
@@VikashKumar-ud3nn any sort of betting mostly
@rajeshsiva6533
5 ай бұрын
That's what Bank want from customer, from sunrise to sunset one get offer of credit card.
@samirbhalerao5579
5 ай бұрын
Buying car on loan is liability in general. Exceptions are eg if a guy in marketing department buys a car and uses it to move the customers around and by increasing his goodwill in the company gets a good salary rise and / or a promotion. Another example is if someone buys a car and turns it into ola / uber like professional service and gets a profit which is acceptable. But other than that those who only buy cars to show off, "keeping up with the jonses" attitude etc are clearly a liability.
@sumitkumar-001
5 ай бұрын
It's obvious. I can't agree more. But people are extremely delusional. They prefer to modify the assets and liability definitions according to their emotional states. THEY ALWAYS THINK THE UNIVERSE REVOLVES AROUND THEM.
@samirbhalerao5579
5 ай бұрын
@@sumitkumar-001 they think like that before they hit the wall.
@KillerHimanshu
5 ай бұрын
My neighbor has less than 20,000 income monthly, and he buys a cooler,a bike, a fridge, and a washing machine by taking loan.🙂
@allahuakbarquran742
5 ай бұрын
He will be begging on the streets very soon
@KhadusuddinAIback-jp4ym
5 ай бұрын
And EMI companies are only too happy to encourage this behavior, especially among gullible kids in their 20s.
@BGPRADEEPKUMAR
5 ай бұрын
Cars are not assert its liability.. its consumerism
@allahuakbarquran742
5 ай бұрын
Yeah
@Talk_logical
5 ай бұрын
It's called consumption and growing as a country. Every developing country goes through this phase which helps the country to grow.
@nayan.j
5 ай бұрын
Buying expensive items on loans is not growing. Gormint earning more taxes is not growing as well.
@kunalverma-ij3zv
5 ай бұрын
Brother country's growth & personal growth are 2 different things. It is only a mere excuse to get the rich people more money and make the poor people poorer.
@a12zN
5 ай бұрын
All, anybody I know, including my immediate relatives and my wife took loans including from loan sharks that they cannot pay. Very risky for the economy particularly when a loan is taken for unnecessary luxuries and they are unable to pay later. As India is booming fueled partly by loans to households the market players will deny anything wrong driven by greed untill the crash comes. it should be controlled.
@allahuakbarquran742
5 ай бұрын
CRASH IS COMING SOON AND THESE YOUNGSTERS ON CREDITS WILL BE RUNNING AROUND LIKE HEADLESS CHICKENS
@allahuakbarquran742
5 ай бұрын
It is past from control...youngsters are doomed
@mohitmohta2865
5 ай бұрын
How is a car asset ???????
@apz7645
5 ай бұрын
A budget car can help you when there is some emergency situation in night time. Or if there is a pregnant lady at home. Also when there are kids in home a car is useful and safe and also save you from tensions and efforts during rainy and winter season.
@drury2d8
5 ай бұрын
@@apz7645 lol
@AfsalPA
5 ай бұрын
Everything in India and Indian middle class is Good according to this Channel ..But actually people are struggling 🙃
@sathyanarayana887
5 ай бұрын
Restrict children production to one like me ....everything will be fine😂
@FREE-NORTHEAST200
5 ай бұрын
North Indian need condom speacialy Uttar Pradesh. Bihar. @@sathyanarayana887
@riyazbabu9077
5 ай бұрын
Simple..Because no percapita income. ..high inflation...India 7th place in Economy benifit only big corporate...
@Amoghavarsha.
5 ай бұрын
Inflation is in control... And Indian GDP grew by 7.6% .... that means per capita is also increasing. And India is 5th largest economy not 7th and I bet in 2 years it will be 3rd largest.
@riyazbabu9077
5 ай бұрын
@@Amoghavarsha. Not a right information....they changed the GDP formula for their benefit...reality is purchasing power gone low And people going for credit. ...per capita income is lower than neighbouring counties. ...there is no point in being 5th, 4th when 28 crore poor people are there below poverty line...multi core people jobless, doller rate 83,
@Amoghavarsha.
5 ай бұрын
@@riyazbabu9077 yeah live in your dilusion
@riyazbabu9077
5 ай бұрын
@@Amoghavarsha. It is the economic report. .if you neglect the fact its ur ignorance..
@avkr
5 ай бұрын
Car is definitely not an asset. In india 55% of car price is tax
@mandarp9472
5 ай бұрын
Income, salaries growth have not kept pace with rising expenses. This is an extremely worrying thing. If this continues for dew decades household will go bankrupt along with the govt .
@Manjunathnswamy
5 ай бұрын
People dreams more what can earn..fools..
@josejoseph8725
5 ай бұрын
Because we middle class feel we are working for government instead of us. Just calculate the tax you pay per day on daily products to tax you pay per month. 5 trillion economy is not important, the standard of living of the people in this country is important. If people standards increased automatically that will happen. But unfortunately middle class are crushed.
@notout841
5 ай бұрын
10 years of achchhe din has pushed every Indian household in debt! Congratulations 😊
@Vas5788
5 ай бұрын
Way to push a agenda...atleast should have watched the whole video
@sathyanarayana887
5 ай бұрын
@@Vas5788pl don't reply on such unemployed kham-chor people
@fenkusingh
5 ай бұрын
hello dhongi congi.
@Rav01508
5 ай бұрын
3 more temples and our unemployment will come down to 1%. As per latest stats I learnt at University (WhatsApp), every temple adds 30 millions jobs and 2 bn GDP
@bravewarrior1218
5 ай бұрын
#notout Were you better off during" Garibi Hatao slogans" ? During Congress rule in India, media was brought and biased. Indira Gandhi bulldozed the parliament by declaring emergency. Media was corrupt & lapdog of Indira Congress.
@brainwizard8915
5 ай бұрын
Any budding economy takes loans. Inflation rate is not high, it is in control. People are using more more credit cards, taking car and home loans. It’s actually a good news. As long as NPA rate is low we don’t need to worry about anything.
@khadirm1525
5 ай бұрын
Everything happens suddenly.if no npa account....npa can occur suddenly, if reccesion occur , suddenly jobs fired everything chainlinked.. ..I'm facing problem till now due to Lockdown, I have started buisness ,1 yearbfr lockdown , But any how still I'm running buisness successful....went to heavy loans...but slowly getting away From loan... soon or later India consumption will decrease, real-estate presently is in peak State.but will collapse
@brainwizard8915
5 ай бұрын
@@khadirm1525 its true things can go bad suddenly, but I don’t see any reason for that. There is nothing to signal anything bad. Bad things can happen due to wars, big scams, some policy oversight / loopholes, over dependence on one country for trade, political instability, pandemic, etc. non of which seems to be the case for india.
@khadirm1525
5 ай бұрын
@@brainwizard8915 bro, no one knew what is lockdown...its happened...bad things happen suddenly...few people knew , Bad things happen bad suddenly...who are that few people...who runs economy secretly...
@user-oq1xc8kn3f
Ай бұрын
half kg carrots and half kg cucumber is 70rs in mumbai. Thats just inflation.
@mandarp9472
5 ай бұрын
Housing and education is extremely expensive and costs have been rising at 9 - 10% inflation. People have to take huge loans for 20 years to buy a small house. People are left with no option.
@budhrajarahul3
5 ай бұрын
Who ask parents to produce kids? Y dont men stay single and just fuck around till 40? Afte that sexual cravings will go away. Stop having wife & kids.. Stay single. Enjoy parents wealth
@Vas5788
5 ай бұрын
Over consumerism is one of the reasons.
@reeeeel2858
5 ай бұрын
After covid lot of things changed , people fell in to debr traps and started taking personal loans to clear them. On top of that, corporate companies pay peanuts here and the market condition of IT jobs is dull post covid. Rents have sky rocketed and ther eis no control on it, groceries, and other prices have also boomed. Schooling costs much nowadays there are no fee regulations on them. Middle class is always burdened by taxes pushing them towards poor standard of living.
@akhileshsharmaindian96
5 ай бұрын
Taking loans for investments for growing money. is a Good thing. But taking loans for shopping , expenses , Marriages or for any other thing is a stupidity.
@jesh-ik5qh
5 ай бұрын
People save in banks . Banks loan to nirav modi. He disappears . Banks declare NPA and close down . People realize savings are not savings anymore ...now people buy iPhone and live their lives !!
@vgvignesh5115
5 ай бұрын
INDIANS are taking a lot of personal loans due to price increase + pathetic job scenario + high inflation Very TOUGH economic position.. So people naturally have to resort to personal loans + jewel loans + agri loans for basic sustenance.. The PDS scheme extension is a clear SIGNAL that RBI + GoI know the TRUE sad position.. 😢😢
@khudafarishta3101
5 ай бұрын
Price increase ND high inflation I don't agree but worse service sector salary scenario I agree
@khudafarishta3101
5 ай бұрын
Jobs are there in market but money is not more
@rajx7120
5 ай бұрын
Or good future income scenario. So, borrowing because they are confident of paying back.
@maheshshinde1596
5 ай бұрын
Docter and builder income is very high.
@ramaraocheepi7847
5 ай бұрын
It's not only fascinating but house hold debts are more is intriguing .Analysis insightful.
@sunilamaranth5606
5 ай бұрын
people are trapped in concepts like"zingadi na milegi dobara" types and many people are getting hugely influenced by insta kind of lifestyle. Despite having money people didn't prioritize travelling in the previous generation. However post covid the travel as a mainstream hobby has hooked people in planning their next trips without realizing what unexpected expense they could incur in future
@kk_7o7
5 ай бұрын
2008 US housing market flashback?
@sony81able
5 ай бұрын
Amritkal chal raha hai till 2047😂😂😂😂😂😂😂😂
@lovishgoyal2814
5 ай бұрын
Result of urbanisation…. People are leaving farming and settling in cities where as businessman spending on farming…. Lack of new farming techniques and the income source of farmers let them to trap in urbanisation
@Amer.Rai.
5 ай бұрын
House hold loans are positive indicator for countries with progressive and dynamic economies.India has economy with growing fiscal deficit with big negative gap in Balance of Payments.So 40 percent is not positive indicator for Indian economy.
@divaDazzler
5 ай бұрын
When I was growing up there was only one house hold on the street who had car which was Toyota Qualis if I moved around the neighbourhood I will find Maruthi, Amabassdor and Tata sumo sometimes the household would be having that car as taxi for their day today life earning and when we graduated it’s was only me and wife Who were engineers and we dint have fancy shoes and had non veg once or thrice in a month and used public transport and family’s on the street wherever heavily investing Gold or property and during the marriage was the only time people would show off what they are owning and every other day people appear simple and never impressed anyone and Carried a normal life, didn’t bother what the neighbours were doing. Now on my street every household has two cars every one is a engineer studying overseas and the hardly eat vegetarian one or thrice a week and the list keeps going and every one knows for themselves
@vivhari
5 ай бұрын
Why do we want to compare with 1999 data for durable goods, do we not have data in the range of 2018?
@RaghuramJ-yr1kx
5 ай бұрын
Petrol at Rs.103. LPG at 880. GST on Hotel bills 18%. Salary is not coping up on these prices. So, they take loans for all other expenses.
@harshsparikh
5 ай бұрын
If I show this video to my gujarati dad and tell him to buy lifestyle things on loans he will remove me from his will😂😂😂 debt is a curse, many people dont realize it until its too late. I learnt it during difficult covid times but I am glad my parents taught me to first focus on savings which will be eventually transformed into wealth and not lifestyle
@allahuakbarquran742
5 ай бұрын
✔✔✔✔✔👍👍👍👍👍👍
@Ag1642-b5p
5 ай бұрын
People just want to show off though they dont have income. Buying iphones cars. People should understand having a car and iphone only makes them look rich..
@jami7772
5 ай бұрын
This is a product of rampant globalisation and now further enhanced by social media. People are buying things as you said rightly to look rich on front of other people who in reality don't give a shit about them. It is a sad society we live in now that's dictated by perception and image.
@unboxingthingsidontneed
5 ай бұрын
I am watching this and realising that I have purchased so many things I don’t really need. I would love to cancel all my credit cards so I can stop buying things online but I am so much in debt I am scared. I must stop.
@nikhilsoo
5 ай бұрын
Credit card must be there and u have to use it only for medical emergency.
@unboxingthingsidontneed
5 ай бұрын
@@nikhilsoo yes. May be I try to limit my online spending as much as possible.
@anjumb9206
5 ай бұрын
Same here, I had just put 3 items in my Amazon cart which i don't need much, was going to buy it later , but then I saw these video , now have no interest to buy those items any more.
@unboxingthingsidontneed
5 ай бұрын
@@anjumb9206 stay strong 💪
@govitm5774
5 ай бұрын
Guess the 40% does not include loans via usury/informal channel/loan sharks - which is the bulk of loans in India - is it difficult to find the size of such loans, salary levels of people who get these loans - i.e., real analysis.
@6deepali
5 ай бұрын
The hounding of telephone calls of do you need loan ,,do you need loan..is also high.Its also responsible to effect consumer choice...
@nileshkujur8025
5 ай бұрын
Consumption drives the economy but over-consumption destroy humans philosophically.
@manaoharsam4211
5 ай бұрын
Food cost of 46 percent of spending is not good.
@ramhindu20
5 ай бұрын
Adani ambani gujju banias looting indian money..rest of the hindus loosing money..😂😂
@tarunbhasin8543
5 ай бұрын
Car is an asset ? wooow what a high IQ
@shiva3437
5 ай бұрын
Car is a depreciating asset Who's smarter now 😂
@AJ-cx6br
5 ай бұрын
😂
@brainwizard8915
5 ай бұрын
Car is indeed an asset brother
@user-vk9kb2mz2c
5 ай бұрын
we are taught that in 9th grade economics, maybe you dropped out before that
@user-sy4mp8hq6i
5 ай бұрын
@user-vk9kb2mz2c A car is not an asset unless you are making extra money with it after all its expenses.
@ganeshnalavde5008
5 ай бұрын
Increased oil rates, consumer goods, other household products, not affordable for middle class families and because of this, people are using credit cards, taking loans and they do not have any other options to raise their family.
@aadhvikkhanna
5 ай бұрын
Unnecessary goods are being purchased due to offers and attractive advertisement.. Resulting in dumping unneccessary goods in home and the companies benefitted from it. Not a consumer. Buy one get one free... People who have been prey for it to understand these types of strategies of marketing so as to live in peaceful environment. Better savings Good health Good traditional well being.
@ImranKhan-us3hs
5 ай бұрын
People have less money in hand so they are taking more debt...
@jimbrutan_senior
5 ай бұрын
They're becoming rich and extravagant
@ojaswidikshit
5 ай бұрын
Currencies are depreciating against assets. 😊
@winningspeechmoments9141
5 ай бұрын
All economies come to crash with real estate excesses. It is a highly leveraged asset that people borrow on and spend like drunken sailors. It can bring a quick end to India's prosperity. Enjoy the run while it lasts, but it will end badly real soon.
@peteram9527
5 ай бұрын
Because they can.
@Kat_12355
5 ай бұрын
There is a need to reform tax slabs in order to give significant relief to middle class....its high time now
@raul835
5 ай бұрын
In another report Palki referred to India as "well off".. piling on debt isn't well off
@HimalayaGarg
5 ай бұрын
They are not consuming, just investing real estate in hope for high return
@Rod-bp8ow
5 ай бұрын
India's exceptional quality is lauded worldwide. it has its means of deriving its income and per capita GDP, its preservation of Natural resources, since it is a CONTINENT, and its vast waters that it has to preserve by education and being reconciled with its long term goals.😊
@manaoharsam4211
5 ай бұрын
Indians are not poor as people think. I am talking about who own real estate. Real Estate has gone up to 1 crore from say 20 lakh investment in just say 10 yrs. Homes in India costing more then USA. Even I don't think I can buy a home in india. This is why people are feeling rich. Their net Asset value has gone up. But the poor have become poorer. Cars costing 20 lakhs. That is what I pay for a Toyota Camry in USA. This is why the Rupee is losing its value. Too much inflation. Yes Rupee shows signs of stabilization. I really don't think India can become like China. Maybe if Indians start seeing what China has done then they can emulate that. I will give you an example. The gas company set up lines in my old neighborhood using camera and boring machine to run from house to house. There was atleast 1200 meter total length. About say 100 houses total. They were done in less then a week , that includes setting up new gas meters with safety devices etc. Now that is fast
@kvishnup
5 ай бұрын
Palki has very conveniently accused the people of materialism. This maybe true for a some young urban dwellers but there will always factors other than materialism/consumerism. Lower and middle income groups always curtail expenses when economic situationon the ground is poor. This fact is strengthened by the data that shows a drop in rural consumption. So Ms.Palki Sharma, it is your job as a journalist to explore hidden and not so obvious reasons to explain household debt. Good journalism would be to research and identify the different economic classes in both rural and urban areas, their incomes graphs for the last 5yrs and effects of inflation on their living standards too, especially after successive effects of demonetisation and pandemic.
@gopsda
5 ай бұрын
Because in the coming near future, there's a possibility that political parties may include as election manifesto to waive off household loans on certain items. Or to waive off income tax for those having loans. So we already started taking loans as a practice, to take loans and pay only interest till some party makes announcements like 1) 1 lakh rupees for one loan defaulter, or one person that only pays interest, and nothing (meaning very very little) towards principal, 2) one lakh rupees for each unemployed, interest-only paying individuals.
@aapbeete9761
5 ай бұрын
Palki looks so cute. Feel like watching her for hours together. I don't care about news.
@udainaik7268
5 ай бұрын
Madam but this trend is rising faster what was the household debt 10 years back and same for national debt it has exponentially risen in recent times. So this is very worrying
@vasanthkrishna7809
4 ай бұрын
This pattern sounds eerily familiar to the days of 2006-08 period of USA. People maybe borrowing loans left-right & center. But most crucial statistics is how many of the lending institutions are able to get those loans repaid with interest. The lifeline of economy depends on that one major factor. Hopefully Indian financial institutions undergo regular stress tests to verify these parameters. Unlike USA or UK, don't think Indian govt. would come to bail them out should things fall flat.
@thelifeoframs7066
5 ай бұрын
A heartfelt thank you to Prime Minister Modi for always advocating for "Good Days." However, let's delve into a case study: Person X purchased a house in August 2021 through a mortgage, with an EMI of 14,440 INR for 360 months. Fast forward to April 2024, X has already made payments for 32 months, yet their EMI has surged to 18,950 INR. They still have 376 months left to pay off the debt. The perplexing part? X is unaware of where the money for the past 32 months went. Moreover, they're now facing an additional 48 months of payments. This predicament sheds light on the impact of the RBI Repo rate hikes. Interestingly, during these 32 months, salaries have surged by 32%. It's crucial to ponder upon these realities rather than being swayed solely by social media narratives, which often portray a selective perspective.
@anjumb9206
5 ай бұрын
If the house loan was taken on "Fixed mortage rate" then why was X's monthly mortage (interest) rate increased to Rs18950?
@thelifeoframs7066
5 ай бұрын
@@anjumb9206 Banks frequently decline to offer fixed interest rates and tend to impose higher interest rates on fixed loans compared to floating rates. In essence, it's not solely about the type of interest rate, but rather the prevailing circumstances.
@gowthamanjaiganesh3210
5 ай бұрын
I believe its quite good to see our country to see evolving. But I feel debt should be used wisely. Like debts can be used by real estate and Gold. But having salary of 10 to 12 k but buying iphone of 1lakh that's simply unacceptable and vanity
@ashishkumarchoubey5592
5 ай бұрын
The only ones earning because of fiscal indiscipline of Indian consumers are corporates and government ( via taxes)
@gautamsify
5 ай бұрын
Really appreciate these facts and short crisp stories. Good initiative keep it up 👍
@mahesh84
5 ай бұрын
Credit cards are flowing like anything ..thats why 😂
@npriyanka1133
5 ай бұрын
This is purely government 's policy by promoting expenditure only and discouraging savings by more multiple taxation system.very unfortunate situation for high tax payers in this country.
@techbasics6142
5 ай бұрын
Thanks social media, typical palki favoring govt. Its not confidence on economy, it's money is concentrated witha few
@GururajBN
5 ай бұрын
A couple of months ago, the government had released a report for the year 2022-23 showing that the poverty level had declined below 5%. Cost of food was no longer the biggest head of expenditure. People were spending more on milk, eggs, vegetables, fruits, and consumer durables.
@vrajesh3616
5 ай бұрын
Most loans are no use...
@MrKsetty
5 ай бұрын
These are the days where people get zero percent EMI, hence even if you have money people wouldn't mind swiping card for that. Key is to see the recovery ratios...not all are burning down their earnings but are also making assets like land and flat or so too.
@dm5665
5 ай бұрын
After social media use now people are more status driven and aspirations are far greater than income. With 20k monthly income aspiration is to use iPhone or royal Enfield hunter.
@DevarshRBhatt
5 ай бұрын
lets not forget a lot of personal loans are for iphone emis and un-necessary shopping of products on ecommerce platforms
@tnnsboy18
5 ай бұрын
I got the iphone 15, how about you? Probably a cheap chinese made android HAHAHA...
@DevarshRBhatt
5 ай бұрын
@@tnnsboy18 good for you. I dont have the guts to put myself in debt over a phone. But I have the pride to not buy chinese made or chinese owned phone, can't say the same about you.
@user-ik3zu7ee9j
5 ай бұрын
When upa or past 40 years they saved now past 10 years people shaved by corporates because past 10 years salary came down to half and living cost gone up 300% and education and medical expenses gone up who to blame centre govt attitude towards common man and their support to corporates
@fudalog1561
5 ай бұрын
better you take economics class and real life study
@chanahyingchan5070
5 ай бұрын
India need not worry. In fact they should be happy. In order to borrow more the Indian credit rating must be extremely good. Be proud that this is happening.
@j.r.6517
5 ай бұрын
Government is responsible. Can you make minimum wages videos of different countries including India.
@IndiaisHindupromisedland
5 ай бұрын
Loan company ads make it look like they are handing out free money 🤑🤑
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