In rural areas, the number of families burdened with debt has increased by four and a half percent. During the survey of 2016-17, the number of such families was 47.40 percent., Which had increased to 52 percent at the time of the latest survey.
The report of another government organization has thrown light on the increasing plight of the working class. During the All India Rural Financial Inclusion Survey (NAFIS) 2021-22 of the National Bank for Agriculture and Rural Development (NABARD), it was found that the number of households burdened with debt in rural areas has increased by four and a half percent. During the 2016-17 survey, the number of such families was 47.40 percent, which had increased to 52 percent at the time of the latest survey. It can be said that now more people are taking loans to increase their lifestyle. But if we look at the income situation, such arguments will appear to be baseless.
In the latest survey, the average monthly income of rural families was Rs 12,698. Came forward. This increased by more than one and a half times in five years. Then the average income was Rs 8,059. Was. The national family is 4.4 persons. So the income per person is Rs 2,886. Sits. That means the spending capacity of a person per day will be Rs 96. This is the average income, which includes the income of both the richest and poorest sections of rural areas. In 2013-14, the Rangarajan Committee set India’s poverty line at Rs 32. It was suggested to have a per day spending capacity. If we adjust it for ten years of inflation, then this amount would be approximately Rs 60 today.
If estimated on this scale, it is possible that more than half of the people in India will fall below the poverty line. By the way, there is no point in assuming that families whose average income is Rs 12,000 should take loans to purchase lifestyle items. So obviously, families taking loans for expenses like education, health, marriage etc. have increased. Before this, it has been told in the Labor Bureau’s Wage Rate Index report, the data released by the Agriculture Ministry, and the Periodic Labor Force Survey report etc. that the real income of the working class has fallen and the growth in average income has come to a standstill. Talks of falling consumption and demand have come to light. In such a situation, it is futile to deny the fact of the plight.