India proves Darwin's theory.

Seems that more Indians are being forced into debt and levels have risen 7 fold in the 10 years between 2002 and 2012. In urban areas 22% of families were in debt and the average amount was Rs 3,78,238 while in rural areas 31% of families had average debts of Rs 1,03,457. The difference in the value of assets owned by the rich and the poor was stark. In urban areas the richest 10% owned assets worth Rs 146 million while the poorest had assets worth just Rs 291. Since consumer goods, such as mobile phones and televisions, and jewellery were not counted as assets the difference is between those who own real estate and those who do not. Thus, 47% of the value of assets was from land and 45% was from buildings. In rural areas the rich were worth Rs 57 million, 73% coming from land and 21% from buildings, while the poor owned assets worth Rs 2,507. Interestingly, 40% of loans in rural areas were for business purposes. That maybe because the government forces public sector banks to lend at low interest rates and farmers expect their loans to be forgiven, come election time. Rural folk are also allowed to enjoy themselves by using Kisan Credit Cards which could add Rs 2 trillion of bad loans for the banks. The mystery is that with so much money being doled out in rural areas  farmers are still committing suicide. Why are they having to borrow from moneylenders when banks are willing to lend without collateral and the NREGA scheme acts as an unemployment benefit in rural areas? Is it because crops are failing because money for irrigation is being stolen or because, as land has been divided onto smaller bits among succeeding generation of children, each family holding has become too small to provide sufficient income. In urban areas, on the other hand, 82% of debt was used to finance housing, education, marriages and so on. It is not surprising because the Congress engineered an inflation induced explosion in property prices and school fees soared by 433% as the Congress forced private fee paying schools to reserve 25% of seats for children from poorer sections, without adequate compensation. Corruption boomed under the Congress  to pay for which taxes were increased to extortionate levels. As taxes are levied on prices, the higher the price the more the taxes. Hence, the Congress ended by taxing inflation which only added fuel to the fire. A recent committee has suggested that indirect taxes at an eye-watering 27% would be ' revenue neutral ' under the GST act. As people became poorer they were unable to spend and had to take loans to maintain their standard of living. Survival of the fittest. As Darwin predicted.