Whether Debt is Good or Bad?

 Depends on how you put that debt into use.

If debt is intended to be used for a productive purpose like creation of asset or employment or treatment of a disease or education, it becomes good.

When a debt is intended for unproductive use like gambling, purchase of raffles, etc. it tends to be bad.

Anything that causes beneficial effects is considered good. Because such activity or thing multiplies the happiness and prosperity.