New Delhi: The average rural household has a debt only below the 60,000 RS while his urban colleagues have a debt of 1.2 lakh Rs.
On the other hand, 35% of rural households owe compared to 22% in urban centers, a survey issued by the National Statistics Office (NSO) on Friday shows.
In rural areas, the average debt is Rs 74,460 for household cultivators and Rs 40,432 for non-cultivator households.
In urban areas, it was 1.8 lakh rs for self-employed households and RS 99,353 for other households, surveys showed.
In the countryside of India, 66% of Cash Circulating Debt came from institutional credit institutions, but 34% came from non-institutional credit institutions.
In urban areas, non-institutional lenders contributed 13% of cash debt circulating while 87% came from institutional credit institutions.
The average asset value held by the family of cultivators in rural areas is Rs 22 Lakh and for non-cultivators about one third at Rs 7.8 lakh.
In urban areas, the average value of assets for self-employed households at Rs 41.5 Lakh almost doubled from the average of 22.1 lakh for other households.
The entire NSO debt & investment survey was conducted during the January-December 2019 period as part of the 77th round of the National Sample Survey (NSS).
The main objective of this survey is to collect quantitative information about household assets and obligations on June 30, 2018.
Around 84.4% of the population 18 years and above has a deposit account in banks in Indian countryside (88.1% male Men and 80.7% of women) were not too different from 85.2% in urban areas (89.0% of men and 81.3% of women).
SCS has the lowest average asset value at Rs 8.7 lakh in rural areas and rs 13.2 lakh in urban areas.
‘Household debt is 60k Rs in the village, RS 1.2L in the city’
