New Delhi: Pandemic Covid-19 not only caused business problems but also resulted in a surge in household debt since 2020.
Even before the pandemic was beaten, the average number of debt among rural households which jumped 84 percent, while urban households increased by 42 percent – which is almost 1.5 times – for a period of six years from 2012-2018.
However, the ‘good news’ is that the share of debt from non-institutional credit institutions declined significantly to 34 percent in 2018 from 44 percent in 2012, a report by the Bank of Nate of India (SBI) economist showed.
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