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Half of farm households indebted: NABARD study

Half of farm households indebted: NABARD study

All India Rural Financial Inclusion Survey 2016-17 was presented by NABARD. It covered a sample of 1.88 lakh people from 40,327 rural households. Only 48% of these are defined as agricultural households, which have at least one member self-employed in agriculture and which received more than ₹5,000 as value of produce from agricultural activities over the past year, whether they possessed any land or not.

Main findings of the study:

  • 52.5% of the agricultural households had an outstanding loan on the date of the survey, and thus were considered indebted.
  • For non-agricultural households in rural India, that figure was 10 percentage points lower, at only 42.8%.
  • The average debt of an indebted agricultural household stood at ₹1, 04,602 in comparison to ₹76,731 for indebted non-agricultural households.
  • The survey found that only 10.5% of agricultural households were found to have a valid Kisan Credit Card at the time of the survey. Households who had the card utilised 66% of the sanctioned credit limit.
  • While 19% of loans were taken for meeting running expenses for agricultural purposes, another 19% were taken for sundry domestic needs.
  • The southern States of Telangana (79%), Andhra Pradesh (77%), and Karnataka (74%) showed the highest levels of indebtedness among agricultural households.

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