: Household debts in India were soaring even before the pandemic made things worse #IndiaNEWS The number of Indian households under debt and the amount they owed increased between 2012 and 2018, making

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Household debts in India were soaring even before the pandemic made things worse #IndiaNEWS
The number of Indian households under debt and the amount they owed increased between 2012 and 2018, making it more likely that these families would fall into a debt trap, shows an analysis of the latest government data by Dvara Research, a policy research organisation focused on financial inclusion and social protection.This rise in indebtedness is sharper among rural households (84%) than urban (42%), as per the analysis, which compared the All India Debt and Investment Survey from the 70th round of the National Sample Survey with the 77th, released in September. Lower-income households in cities continue to remain more vulnerable than those in rural areas, mainly because they do not own enough valuable assets that can be sold quickly to repay debts.Two other significant conclusions from this survey are that women-led households are less indebted and that the southern states of India show higher levels of indebtedness.The All India Debt and Investment Survey gathers information on Indian households’ assets, liabilities, savings, consumption and capital expenses, such as on land or property. Household indebtedness is measured as a share of a country’s gross domestic product, and according to a recent working paper by the Bank for International Settlements, increased household indebtedness causes a rise in consumption and...Read more

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