Households’ debt surged between 2012 and 2018, then COVID-19 likely doubled it, says survey
The Hindu
Rural households’ average debt grew from ₹32,522 in 2012 to ₹59,748 by June 2018, while that of urban households increased by 42% in the same period to a little over ₹1.20 lakh, according to the All India Debt & Investment Survey
The number of indebted households have risen sharply in rural India, with average debt shooting up by 84% between 2012 and 2018, and the COVID-19 pandemic has likely further doubled all households’ borrowings by 2021.
Rural households’ average debt grew from ₹32,522 in 2012 to ₹59,748 by June 2018, as per the All India Debt & Investment Survey (AIDIS) conducted by the National Statistical Office (NSO) over 2019, while urban households’ average debt increased by 42% in the same period to a little over ₹1.20 lakh.
The number of households in debt as measured by the incidence of indebtedness among surveyed households had risen to 35% in rural India from 31.4% in the previous survey, while it remained static at 22.4% for urban households.
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