Household Debt Increased On An Average By 1.5 Times Between 2012, 2018: SBI Research
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SBI Research Report
The recently released India Debt and Investment Survey (AIDIS) report for 2018 shows increase in average amount of debt among rural as well as urban households, with the average amount of debt increasing by 84% and by 42% respectively for rural and urban households for the six year period ended 2018.
State-wise trend indicates that the rural households’ average debt more than doubled in 18 states for the six year period ended 2018, while seven states witnessed the same for urban households.
Importantly, five states, including Maharashtra, Rajasthan and Assam witnessed a simultaneous doubling in average debt across both urban and rural households during this period.
The Covid-19 pandemic has resulted in spike in household debt to gross domestic product rate.
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