1. btw,should we really believe that the indian saving rate is 40% or whatever high number alleged by the india shining bandwagon?
    subroto roy @independentindian.com has shown how it is a bogus number and an artificial creature of the fractional reserve system.the govt banks hold most of the money and most of the deposits are from the govt.the measurement of savings in this distorted situation is a poor indication of our savings rate

    ofcourse while our household debt situation might be better than the US the fiscal situation is nothing to be proud of.

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