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That approach might not be good for the economy overall though. India will become a spending driven society, like the US. In which case, credit will play a big
by npguy 14y ago
That approach might not be good for the economy overall though. India will become a spending driven society, like the US. In which case, credit will play a big role. It is just inevitable.
- fareesh 14y agoWhether or not it is, I don't think the average middle class consumer is going to be concerned with anything but their own financial well-being, over other relatively macro-economic considerations and consequences.
- npguy 14y agoyou are underestimating the power of the government and central bank. if they decide that they want to move the country in a given direction, they have all the tools to make it happen. Just look at the way US home buyers got immediate tax credit as an example of how this could play out.