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Are you Okay Being in the Debt Trap? You won?t After Using SIP Calculator Finance Articles | August 11 Wholesale Hunter Renfrow Jersey , 2019
In recent years, the trend of taking loans for fulfiling the expensive desires has reached an alarming level. Indians are quite comfortable taking the route of debt for achieving any of their financia...


In recent years, the trend of taking loans for fulfiling the expensive desires has reached an alarming level. Indians are quite comfortable taking the route of debt for achieving any of their financial objectives without giving a second thought. Talking about numbers Wholesale Foster Moreau Jersey , the retail lending for household debt rose to Rs 6.78 lakh crore for 2017-18 from Rs 3.75 lakh crore for 2016-2017. The numbers are increasing at lightning pace as Indians are developing a habit for taking loans for every desire. It is not only slowing down the economic growth of the nation but this poisonous habit is eating out a lot from individuals who are involving in debt. The major concern is that people taking loans for distinct goals are not even aware of the opportunities that can save them from toxic debts. The SIP calculator can help you know what harm you are doing to yourself by taking loans.


India is Becoming Nation of EMI
Taking the route of Equated Monthly Installment (EMI) has become a primary means to buy cars, houses, smart-phones Wholesale Isaiah Johnson Jersey , and various other desired objects. It has also been witnessed that to save oneself from financial imbalances, people tend to choose the path of EMI even when they do not need to. On an average, Indians are borrowing much more than what their monthly income would allow. As per the data released by Reserve Bank of India for FY2018 Wholesale Maxx Crosby Jersey , per capita GDP of India rose by 8.5% while the per capita loan amount increased by 17.9%. This shows that the growth rate of the income won’t be able to support the growth rate of debts in the future and the borrower will have to pay much more than what he is borrowing after considering the growth in his income.


Loans and Debts are Eating out the Economy
Debts to a nation’s economy are just like pests and termites to a farm. Lower debts aids to consumption-driven economic growth and a higher debt can lead to higher interest rates and a slowdown in economic growth. This can further lead to a decline in production and can increase unemployment. You may have never given it a thought while taking the loan but with every loan t one[/url] Cheap Air Max 97 Online Cheap Nike Air Max 90 Premium