CA warns how 'no-cost EMIs' is keeping Indian middle class broke: ‘If you have to borrow for 36 months, you cannot afford it’
· economictimes.indiatimes.com
CA Nitin Kaushik warns that “no cost EMIs” can leave Indias middle class financially stretched by encouraging lifestyle upgrades through debt. He argues that five-year car loans and credit card EMIs for phones or vacations can consume future salaries and reduce financial flexibility. His simple rule: if you need to borrow for 36 months to buy a gadget, you cannot actually afford it.
Synopsis
CA Nitin Kaushik warns that “no cost EMIs” can leave India’s middle class financially stretched by encouraging lifestyle upgrades through debt. ...