Household debt is Rs 60,000 in villages, Rs 1.2 lakh in cities: NSO

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NEW DELHI: The average rural household had a debt of just under Rs 60,000 while its urban counterpart had a debt of Rs 1.2 lakh. On the flip side, 35% of rural households were indebted compared to 22% in urban centres, a survey released by the National Statistical office (NSO) on Friday showed.
In rural areas, the average debt was Rs 74,460 for cultivator households and Rs 40,432 for non-cultivator households. In urban areas, it was Rs 1.8 lakh for self-employed households and Rs 99,353 for other households, the survey showed. In rural India, 66% of the outstanding cash debt was from institutional credit agencies, but 34% was from non-institutional credit agencies. In urban areas, non-institutional lenders accounted for just 13% of the outstanding cash debt while 87% was from institutional credit agencies.
The average value of assets held by cultivator families in rural areas was Rs…

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