Over 50% Agricultural Families In Debt With Average Loan Of ₹ 74,121 In 2019: Survey
"Percentage of indebted agricultural households:50.2 per cent; and average amount of outstanding loan per agricultural household: ₹ 74,121,".
According to a survey done by the National Statistical Office, over 50% of agricultural households in the country were in debt in 2019, with the average outstanding loan per home being 74,121. (NSO).
According to the poll, only 69.6% of outstanding loans came from institutional sources such as banks, cooperative societies, and government organizations, according to the survey. In contrast, 20.5 percent came from professional money lenders.
The average monthly income per agricultural household in the 2018-19 agrarian year was $10,218. The typical household income came from labor at $4,063, agricultural production at $3,798, animal husbandry at 1,582, non-farm business at 641, and land leasing at 134.
The average amount of debt among rural households was 59,748 rupees as of June 30, 2018 (Rs 74,460 for farmer households and Rs 40,432 for non-cultivator families).
The average amount of debt held by urban households was $120,336.
On June 30, 2018, indebted households in rural India had an average debt of Rs 1,70,533 (Rs 1,84,903 for farmer households, Rs 1,43,557 for non-cultivator households).