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Over 50% Agricultural Families In Debt With Average Loan Of Rs 74,121 In 2019: Survey

Of the overall mortgage, solely 57.5 per cent was taken for agricultural functions, survey mentioned (Representational)

New Delhi:

Over 50 per cent of agricultural households within the nation had been in debt with common excellent mortgage per family at Rs 74,121 in 2019, says a survey carried out by National Statistical Office (NSO).

The survey additional factors out that solely 69.6 per cent of the excellent loans had been taken from institutional sources like banks, cooperative societies and authorities businesses, whereas 20.5 per cent of loans had been from skilled cash lenders.

Of the overall mortgage, solely 57.5 per cent was taken for agricultural functions, it added.

“Percentage of indebted agricultural households: 50.2 per cent; and average amount of outstanding loan per agricultural household: Rs. 74,121,” it mentioned.

NSO carried out the survey on land and livestock holdings of households and state of affairs evaluation of agricultural households in rural areas of the nation throughout January-December 2019.

The survey additional mentioned the typical month-to-month revenue per agricultural family throughout agricultural yr 2018-19 was at Rs 10,218. Of this, the typical revenue per family from wages was Rs 4,063, crop manufacturing Rs 3,798, animal husbandry Rs 1,582, non-farm enterprise Rs 641 and leasing of land Rs 134.

According to the survey, the variety of agricultural households within the nation was estimated at 9.Three crore with OBCs accounting for 45.eight per cent, SC 15.9 per cent, ST 14.2 per cent and others 24.1 per cent.

The survey estimates non-agricultural households dwelling in rural areas at 7.93 crore. It additionally revealed that as a lot as 83.5 per cent of rural households had lower than 1 hectare of land, whereas solely 0.2 per cent possessed land in extra of 10 hectare.

Meanwhile in one other report, NSO said that the incidence of indebtedness was about 35 per cent in rural India (40.Three per cent cultivator households, 28.2 per cent non-cultivator households) in comparison with 22.Four per cent in city India (27.5 per cent self-employed households, 20.6 per cent different households) as of June 30, 2018.

NSO carried out the newest survey — All India Debt & Investment Survey– throughout the interval January-December, 2019 as part of 77th spherical of National Sample Survey (NSS).

Prior to this, the survey was carried out in NSS 26th spherical (1971-72), 37th spherical (1981-82), 48th spherical (1992), 59th spherical (2003) and 70th spherical (2013).

The report additionally discovered that in rural India, 17.eight per cent households had been indebted to institutional credit score businesses solely (21.2 per cent cultivator households, 13.5 per cent non-cultivator households) towards 14.5 per cent households in Urban India (18 per cent self-employed households, 13.Three per cent different households).

About 10.2 per cent of the households had been indebted to non-institutional credit score businesses solely in rural India in comparison with 4.9 per cent households in city India, it added.

About 7 per cent of the households had been indebted to each institutional credit score businesses and non-institutional credit score businesses in rural India towards Three per cent households in city India.

It additionally mentioned that as of June 30, 2018, common quantity of debt was Rs 59,748 amongst rural households (Rs 74,460 for cultivator households, Rs 40,432 for non-cultivator households).

Average quantity of debt was Rs 1,20,336 amongst city households.

In rural India, the share of excellent money debt from institutional credit score businesses was 66 per cent towards 34 per cent from non-institutional credit score businesses.

In city India, the share of excellent money debt from institutional credit score businesses was 87 per cent in comparison with 13 per cent from non-institutional credit score businesses.

As of June 30, 2018, the typical quantity of debt was Rs 1,70,533 amongst indebted households in rural India (Rs 1,84,903 for cultivator households, Rs 1,43,557 for non-cultivator households).

Average quantity of debt was Rs 5,36,861 amongst indebted households in city India, it said.

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