Economic Survey invokes scriptures against loan defaults - News Summed Up

Economic Survey invokes scriptures against loan defaults


The Economic Survey 2019 delves into religion and mythology to provide a theological basis against loan defaults and for the uplift of women. “In India, where social and religious norms play such a dominant role in influencing behaviour, behavioural economics can provide a valuable instrument for change,” the Survey said. The Survey quoted Prophet Muhammed as having said: “O Allah, I seek refuge with You from sin and heavy debt.”“A person cannot enter Paradise until his debt is paid off,” it explained. “Indian women have enjoyed a position of respect and reverence in ancient Indian society,” the Survey said. “The long philosophical conversations between sage Agastya and his highly educated wife Lopamudra are legendary,” the Survey added.


Source: The Hindu July 04, 2019 18:00 UTC



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