NABARD stands for National Bank for Agriculture and Rural Development. Recently, NABARD highlight the survey on agriculture households challanges and efforts by the goverment to adress them. NABARD has released its report on All India Rural Financial Inclusion Survey 2016-17 on 17 August. Coming to the Literal meaning of agriculture household and its dimension covered by NABARD.
This survey 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. Those who received more than ₹5,000 as value of produce from agricultural activities over the past year. They may be having their own field for cultivation or not that does not matter.
Slightly Difference between NABARD 16-17 and NSSO’s 12-13 Report
National sample survey office (NSSO’s) 70th situational assessment survey (SAS) IN 2012-13 similar to NABARD. But there is slightly difference in the monthly income wages Rs 3000 and Rs 5000. Agricultural households reporting an outstanding debt also had a higher debt liability compared with non-agricultural ones. More than half the agricultural households in the country have outstanding debt. Their average outstanding debt is almost as high as the average annual income of all agricultural households.
NABARD found that 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.
NABARD major concern on Farmer debt
The main concern behind going farmer in debt is capital expenditure for agriculture process. Among the small and marginal farmers owning less than 0.4 hectares, slightly less than 50% of the households were in debt.The southern States of Telangana (79%) at the top in the debt and on the other side Odisha (54%) debt is notified.
