Modi Economy: GDP up 81%, Personal Loans up 246%
Modi Economy: In 6 years that PM Modi has been in power, personal loans (Unsecured, High Interest) have absolutely taken off
Between 2014 and 2020, GDP is up 81%, on a per capita basis this would be even lower.
Personal Loans went up from Rs 202000 crores to Rs 699259 crores or 246% up
But personal income taxes are up 130%. Per se, the Government’s tax revenue is up 3-4% higher than nominal GDP growth on an average every year. Not to mention that despite Crude Oil Prices going down by 60%, taxes collected on Fuel increased 84%
Modi Economy Underperforms as Bangladesh Catches up
In the meanwhile, Bangladesh whose per Capita was 30% lower than India is inching close. In 2020, Bangladesh is likely to grow around 4.5% versus India at -4%. The Economy is clearly struggling!
Read about Bangladesh vs India on Dailyhunt
Read all our Economy articles here
Follow us on Dailyhunt and Google News
Pic Courtesy: Daily Star