The Economic Times

CA warns how 'no-cost EMIs' is keeping Indian middle class broke: If you have to borrow for 36 months, you cannot afford it

CA Nitin Kaushik warns that no cost EMIs can leave Indias middle class financially stretched by encouraging lifestyle upgrades through debt. He argues that five-year car loans and credit card EMIs for phones or vacations can consume future salaries and reduce financial flexibility. His simple rule: if you need to borrow for 36 months to buy a gadget, you cannot actually afford it.