Half of India’s agricultural families in debt with average loan of Rs 74,121 in 2019: Survey

Over 50 per cent of agricultural households in the country were in debt with average outstanding loan per household at Rs 74,121 in 2019, revealed a survey conducted by National Statistical Office (NSO). The survey further points out that only 69.6 per cent of the outstanding loans were taken from institutional sources like banks, cooperative societies and government agencies, while 20.5 per cent of loans were from professional money lenders.

Of the total loan, only 57.5 per cent was taken for agricultural purposes, it added. “Percentage of indebted agricultural households:50.2 per cent; and average amount of outstanding loan per agricultural household: Rs. 74,121,” it said.

NSO carried out the survey on land and livestock holdings of households and situation assessment of agricultural households in  rural areas of the country during January-December 2019.

The survey further said the average monthly income per agricultural household during agricultural year 2018-19 was at Rs 10,218. Of this, the average income per household from wages was Rs 4,063, crop production Rs 3,798, animal husbandry Rs 1,582, non-farm business Rs 641 and leasing of land Rs 134.

According to the survey, the number of agricultural households in the country was estimated at 9.3 crore with OBCs accounting for 45.8 per cent, SC 15.9 per cent, ST 14.2 per cent and others 24.1 per cent.

The survey estimates non-agricultural households living in rural areas at 7.93 crore.  It also revealed that as much as 83.5 per cent of rural households had less than 1 hectare of land, while only 0.2 per cent possessed land in excess of 10 hectare. It also said that as of June 30, 2018, average amount of debt was Rs 59,748 among rural households (Rs 74,460 for cultivator households, Rs 40,432 for non-cultivator households). Average amount of debt was Rs 1,20,336 among urban households. 

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