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LATEST NEWS UPDATES | Income of farm households 23% higher than non-farm homes: Nabard survey

Income of farm households 23% higher than non-farm homes: Nabard survey

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published Published on Aug 17, 2018   modified Modified on Aug 17, 2018
-The Hindu Business Line

New Delhi: The income of agricultural households, which account for nearly half the rural households in the country, surged to Rs 1,07,172 in 2015-16 at a annual compound growth rate (CAGR) of 12 per cent since 2012-13.

According to a rural survey carried out by the National Bank for Agricultural & Rural Development (Nabard), while the average annual income levels of non-agricultural households in 2015-16 stood at Rs 87,228, all households (agricultural as well as non-agricultural) reported an average annual income of Rs 96,708.

This is 39 per cent more than Rs 77,112 per annum reported during the National Sample Survey Organisation (NSSO) assessment in 2012-13, Nabard Chairman Harsh Kumar Bhanwala said here on the occasion of Nabard All India Rural Financial Inclusion Survey 2016-17 on Thursday.

For the first edition of the survey, to be conducted every three years, data from as many as 40,327 rural households, with a total population of 1,87,518 members, at 245 districts in 29 States was used, he said.

The survey report was released by NITI Aayog Vice Chairman Rajiv Kumar. The income levels of 19 out of 29 States are above the all-India average and 15 States recorded a CAGR of 10.5 per cent between 2012-13 and 2015-16, the survey indicated.

According to Bhanwala, Nabard decided to carry out such surveys every three years as similar surveys like NSSO Situation Assessment Survey of Agricultural Households are conducted at a periodicity of 10 years. "This is because by the time such reports (such as NSSO surveys) come out, the situation would have dramatically changed," Bhanwala said.

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The Hindu Business Line, 16 August, 2018, https://www.thehindubusinessline.com/economy/income-of-farm-households-23-higher-than-non-farm-homes-nabard-survey/article24703915.ece?homepage=true


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