THE EMI ILLUSION: HOW DEBT IS FUELING AND THREATENING INDIA'S MIDDLE-CLASS DREAM

The narrative of India's economic ascent is often painted with the broad brushstrokes of a burgeoning middle class, one that seemingly possesses all the trappings of modern success: spacious homes, shiny cars, quality education, foreign vacations, and the latest technological gadgets.

- DR. AMAN KUMAR SHARMA & SHELU SHARMA

On the surface, it appears that "good days are here," a testament to rising prosperity and economic liberalization. However, a closer examination reveals a more precarious reality, one underpinned not by sustainable wealth but by the seductive and often dangerous allure of easy credit. The Indian middle class has, believe it or not, metamorphosed into an "EMI class," where every aspiration, from the essential to the extravagant, is available for the price of a few monthly installments. This systemic reliance on debt is not just reshaping consumption patterns; it is forging a debt trap that threatens financial stability, mental peace, and the very foundations of the economic progress it purports to symbolize. The façade of prosperity is cracking under the weight of cumulative liabilities, revealing a deepseated crisis where dreams are purchased on credit, and peace of mind is the first casualty.