n the past three to five years, the Indian consumer has been spending more and more. Whether it is on a house, car or a dream holiday, today's consumers, unlike the generation earlier, are splurging like never before. And compared to their parents, the new generation doesn't mind doing this spending on credit, whether it is through low-interest loans or credit cards. In 2005, spending through credit cards has been estimated to touch Rs 22,500 crore.

"Today, the consumer is willing to bet his future income to realise his dreams and is buying assets and indulging in expenses that would not have been possible earlier," says Gaurav Mashruwala, a Mumbai-based financial planner. If the average age of a house buyer was 42 in 2002-03, it came down to 38 last year and is expected to fall even further.... more