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NEW DELHI: The average rural household had a debt of just under Rs 60,000, while its urban counterpart had a debt of Rs 1.2 lakh. On the other hand, 35% of rural households were in debt compared to 22% in urban centers, according to a survey released Friday by the National Statistical Office (NSO).
In rural areas, the average debt was Rs 74,460 for farming households and Rs 40,432 for non-farming households. In urban areas, it was Rs 1.8 lakh for independent households and Rs 99,353 for other households, according to the survey. In rural India, 66% of outstanding cash debt came from institutional lenders, but 34% came from non-institutional lenders. In urban areas, non-institutional lenders accounted for only 13% of outstanding cash debt, while 87% came from institutional lenders.
The average value of assets held by farming families in rural areas was Rs 22 lakh and for non-cultivators it was around one third at Rs 7.8 lakh. In urban areas, the average asset value of independent households at Rs 41.5 lakh was almost double the average of Rs 22.1 lakh for other households.
The ONS Debt and Investment Survey in India was conducted between January and December 2019 as part of the 77th Cycle of the National Sample Survey (NSS). The main objective of the survey was to collect quantitative information on household assets and liabilities as of June 30, 2018.
About 84.4% of the population aged 18 and over had a deposit account in banks in rural India (88.1% men and 80.7% women) not much different from the 85.2% of the areas urban (89.0% men and 81.3% women). SCs had the lowest average asset value at Rs 8.7 lakh in rural areas and Rs 13.2 lakh in urban areas.
In rural areas, the average debt was Rs 74,460 for farming households and Rs 40,432 for non-farming households. In urban areas, it was Rs 1.8 lakh for independent households and Rs 99,353 for other households, according to the survey. In rural India, 66% of outstanding cash debt came from institutional lenders, but 34% came from non-institutional lenders. In urban areas, non-institutional lenders accounted for only 13% of outstanding cash debt, while 87% came from institutional lenders.
The average value of assets held by farming families in rural areas was Rs 22 lakh and for non-cultivators it was around one third at Rs 7.8 lakh. In urban areas, the average asset value of independent households at Rs 41.5 lakh was almost double the average of Rs 22.1 lakh for other households.
The ONS Debt and Investment Survey in India was conducted between January and December 2019 as part of the 77th Cycle of the National Sample Survey (NSS). The main objective of the survey was to collect quantitative information on household assets and liabilities as of June 30, 2018.
About 84.4% of the population aged 18 and over had a deposit account in banks in rural India (88.1% men and 80.7% women) not much different from the 85.2% of the areas urban (89.0% men and 81.3% women). SCs had the lowest average asset value at Rs 8.7 lakh in rural areas and Rs 13.2 lakh in urban areas.
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