Household debt rising but relatively low compared to other EMEs

The Reserve Bank of India (RBI) has highlighted that while household debt in India has been on the rise over the past three years, it remains relatively low compared to other emerging market economies (EMEs).

- ANI

It said, "At 42.9 per cent of GDP (at current market prices) in June 2024, India's household debt is relatively low compared to other EMEs, however, it has increased over the past three years".

According to the report, household debt stood at 42.9 per cent of GDP at current market prices in June 2024. The report underlined that the rise in household debt is primarily driven by an increase in the number of borrowers, rather than a rise in the average indebtedness per individual.