Pain Of Debt
Government, corporates and even households are deep in debt. In a slowing economy this could only escalate
A few months ago, when the Comptroller and Auditor General of India (CAG) rapped the Union Finance Ministry for its off balance sheet borrowings, the news did not come as a surprise to anyone following the government's finances. As several economists have calculated, if one were to add up all the extra budgetary liabilities of the Indian government, the
