National Statistical Office : NSO Report
According to a recently released National Statistical Office (NSO) report, the average loans of farmer households had increased by 57% in the last five years till the year 2018.
The latest findings of the Situation Assessment of Agricultural Households and Land Holdings of Households in Rural India, 2019 survey have been released by the Ministry of Statistics and Program Implementation (MoSPI).
Key findings : NSO Report
- In the year 2019, more than 50% of the farming households in the country were in debt with an average outstanding loan of Rs 74,121 per household.
- Only 69.6% of the outstanding loans were taken from institutional sources such as banks, co-operative societies and government agencies, while 20.5 percent were from professional moneylenders.
- The average monthly income per farming family during the agricultural year 2018-19 was Rs 10,218.
- The number of farming families in the country has been estimated to be 9.3 crore. In this, the number of Other Backward Classes (OBC) is 45.8%, Scheduled Castes (SC) 15.9%, Scheduled Tribes (ST) 14.2% and others 24.1%.
- Additionally, 83.5% of rural households own less than one hectare of land, while only 0.2% own more than 10 hectares.
Agricultural Credit System in India:
Priority Sector Lending (PSL); Interest Subvention Scheme: ISS); Kisan Credit Card (KCC) Scheme; Self Help Groups -Bank Linkage Program (SHG-BPL) etc.
Source – The Hindu