India's Non-Sovereign Debt May Reach 150% Of GDP By 2047: Crisil - BW Businessworld

India's Non-Sovereign Debt May Reach 150% Of GDP By 2047: Crisil - BW Businessworld

Source: BW Businessworld

DW NOTE

India's non-sovereign debt — corporates, households, state enterprises — is projected to hit 150% of GDP within two decades. That's the forecast, not the problem. The problem is that Crisil presents this as a data point rather than a structural crisis in the making. India's banking system is state-dominated, its corporate sector is concentration risk personified, and household debt has doubled in a decade while formal employment growth has stalled. A 150% non-sovereign debt ratio in that context isn't a milestone, it's a maturity wall with no credible refinancing plan.

Read the full story at BW Businessworld →