But even after taking those into account, it appears that current loanto-valuation ratios still tend to be larger than in the case of principal-and-interest loans. Finally, while mortgage arrears rates have increased slightly over recent years, they have increased more noticeably in regions exposed to the downturn in commodity prices and mining investment.
Another momentous reform is the establishment of the GST council whereby the Government of India has created one of the most effective institutional mechanisms for cooperative federalism. Along with the State Governments, it has offered a refreshing counter-narrative to the divisive course of the international federal dialogue, voluntarily choosing to relinquish and then pool sovereignty for a larger collective cause.