Tag: debt

Rising debt payments are eroding the spending power of Indian households and threatening to choke off the funds that fuel the fastest-growing major economy.Household financial assets, including bank deposits, cash and equity investments, after deducting debt servicing and consumption, eased to 5.1% of gross domestic product in the fiscal year ended March from 7.2% in the previous year, according to the latest data from the Reserve Bank of India.That level, according to calculations by IndusInd Bank Ltd.’s Chief Economist Gaurav Kapur, is the lowest since the fiscal year...