Average debt of farm households up 57% in five years till 2018

The average outstanding loan per agricultural household increased 57.7 per cent to Rs 74,121 in 2018 compared with Rs 47,000 five years ago in 2013, according to the latest findings of a survey by the National Statistical Office.

The findings of the survey — Situation Assessment of Agricultural Households and Land Holdings of Households —in Rural India, 2019 — released by the Ministry of Programme Implementation and Statistics on Friday also estimated that the average monthly income from different sources rose 59 per cent to Rs 10,218 based on the ‘paid out expenses’ approach in 2018-19 compared with Rs 6,426 in 2012-13. More than 50 per cent of the increase in income was on account of higher monthly wages, which almost doubled to 4,063 in 2018 compared with Rs 2,071 in 2013.

In the ‘paid out expenses’ approach, all out of pocket expenditure incurred for each type of input is taken into account. The agricultural year in India begins July and ends the following June.

— source indianexpress.com | Harikishan Sharma | Sep 11, 2021

Nullius in verba

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