Most Indians depend on loans to meet their needs for home construction, education, healthcare, marriage, etc. The primary causes of this debt dependency include low income, high inflation, lack of job opportunities, reduced savings and inadequate social security.
In addition, government spending on public services has decreased. The private sector also depends on imported materials and re-packaging and Made in India labelling on imported products.
Private companies are also facing similar problems. But big companies don't have that problem. They are in good health, with high benefits of being rich and rapid growth. The major reasons are loan write-off facility, incentives, subsidies and government support.
There are three players in the Indian market economy:
Producers, consumers and suppliers. The supply chain system is bigger than the production system. The number of people involved in production and manufacturing systems is lower than that of suppliers and consumers.
There are three causes of inflation: first, reduction in savings, unemployment and low income. Second, the burden of loan EMIs, high import costs and high taxes. Third, the centralisation of profits in certain sectors and the decline in government spending.
There are three major reasons for the current decline and stagnation in the Indian economy: First, electoral politics and the outflow of investments, savings and profits of rich Indians abroad. Second, the nexus between the ruling party, corporations and the media.
Thirdly, most of the productive population earns very little to meet their basic needs.
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