What portion of your salary should you spend on loan EMIs?
Most people buy a house or a car by taking a loan from the bank, but do you know what is the maximum portion of your salary that you should spend on EMI? What is the 40 percent EMI rule? What are the disadvantages of spending more on EMIs? Among home loan, personal loan, auto loan and credit card bills, which loan should you eliminate first?
India has reported 18,795 new Covid-19 cases in the last 24 hours. The total recoveries across the country so far are 3,29,58,002. According to the health ministry’s data, 26,030 patients recovered during the last 24 hours. The active caseload is currently at 2,92,206, which is the lowest in 192 days with a cumulative total of more than 3.36 crore cases. The national recovery rate of Covid-19 has increased to 97.81%, which is the highest since March 2020 with 26,030 patients recovering during the last 24 hours till 8:00 am. The active cases account for less than 1% of total cases, currently at 0.87%.
The weekly positivity rate stands at 1.88%, less than 3% for the last 95 days. The daily positivity rate was reported to be less than 3% at 1.42% for the last 29 days.
The testing capacity has also been substantially ramped up to 56.57 crore in the country.
India’s vaccination drive
Cumulative vaccine doses administered so far have reached 87.07 crores. More than 1 crore doses have been administered in the last 24 hours. In the month of August, more than 18.3 crore doses have been administered.
The new phase of universalisation of the vaccination programme commenced from June 21. Under the programme, the central government made inoculation free of cost for all adults. Vaccines were earlier free for people above 45 years of age.
According to the ministry, more than 70% of the deaths that have been reported are due to comorbidities.