'Over 50% agricultural families in debt with average loan of Rs 74,121 in 2019'

Over 50 per cent of agricultural households in the country were in debt with average outstanding loan per household at Rs 74121 in 2019 says a survey conducted by National Statistical Office NSOThe survey further points out that only 696 per cent of the outstanding loans were taken from institutional sources like banks cooperative societies and government agencies while 205 per cent of loans were from professional money lendersOf the total loan only 575 per cent was taken for agricultural purposes it addedPercentage of indebted agricultural households502 per cent and average amount of outstanding loan per agricultural household Rs 74121 it saidNSO carried out the survey on land and livestock holdings of households and situation assessment of agricultural households in rural areas of the country during JanuaryDecember 2019The survey further said the average monthly income per agricultural household during agricultural year 201819 was at Rs 10218 Of this the average income per household from wages was Rs 4063 crop production Rs 3798 animal husbandry Rs 1582 nonfarm business Rs 641 and leasing of land Rs 134According to the survey the number of agricultural households in the country was estimated at 93 crore with OBCs accounting for 458 per cent SC 159 per cent ST 142 per cent and others 241 per centThe survey estimates nonagricultural households living in rural areas at 793 crore It also revealed that as much as 835 per cent of rural households had less than 1 hectare of land while only 02 per cent possessed land in excess of 10 hectareMeanwhile in another report NSO stated that the incidence of indebtedness was about 35 per cent in rural India 403 per cent cultivator households 282 per cent noncultivator households compared to 224 per cent in urban India 275 per cent selfemployed households 206 per cent other households as of June 30 2018NSO conducted the latest survey All India Debt amp Investment Survey during the period JanuaryDecember 2019 as a part of 77th round of National Sample Survey NSSPrior to this the survey was carried out in NSS 26th round 197172 37th round 198182 48th round 1992 59th round 2003 and 70th round 2013The report also found that in rural India 178 per cent households were indebted to institutional credit agencies only 212 per cent cultivator households 135 per cent noncultivator households against 145 per cent households in Urban India 18 per cent selfemployed households 133 per cent other householdsAbout 102 per cent of the households were indebted to noninstitutional credit agencies only in rural India compared to 49 per cent households in urban India it addedAbout 7 per cent of the households were indebted to both institutional credit agencies and noninstitutional credit agencies in rural India against 3 per cent households in urban IndiaIt also said that as of June 30 2018 average amount of debt was Rs 59748 among rural households Rs 74460 for cultivator households Rs 40432 for noncultivator householdsAverage amount of debt was Rs 120336 among urban householdsIn rural India the share of outstanding cash debt from institutional credit agencies was 66 per cent against 34 per cent from noninstitutional credit agenciesIn urban India the share of outstanding cash debt from institutional credit agencies was 87 per cent compared to 13 per cent from noninstitutional credit agenciesAs of June 30 2018 the average amount of debt was Rs 170533 among indebted households in rural India Rs 184903 for cultivator households Rs 143557 for noncultivator householdsAverage amount of debt was Rs 536861 among indebted households in urban India it statedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever