Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 73,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'catslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 73,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'catslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
$message = 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
$stackFrame = (int) 1
$trace = [
	(int) 0 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ServerRequest.php',
		'line' => (int) 2421,
		'function' => 'deprecationWarning',
		'args' => [
			(int) 0 => 'The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead.'
		]
	],
	(int) 1 => [
		'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
		'line' => (int) 74,
		'function' => 'offsetGet',
		'class' => 'Cake\Http\ServerRequest',
		'object' => object(Cake\Http\ServerRequest) {},
		'type' => '->',
		'args' => [
			(int) 0 => 'artileslug'
		]
	],
	(int) 2 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Controller/Controller.php',
		'line' => (int) 610,
		'function' => 'printArticle',
		'class' => 'App\Controller\ArtileDetailController',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 3 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 120,
		'function' => 'invokeAction',
		'class' => 'Cake\Controller\Controller',
		'object' => object(App\Controller\ArtileDetailController) {},
		'type' => '->',
		'args' => []
	],
	(int) 4 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/ActionDispatcher.php',
		'line' => (int) 94,
		'function' => '_invoke',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(App\Controller\ArtileDetailController) {}
		]
	],
	(int) 5 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/BaseApplication.php',
		'line' => (int) 235,
		'function' => 'dispatch',
		'class' => 'Cake\Http\ActionDispatcher',
		'object' => object(Cake\Http\ActionDispatcher) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 6 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Http\BaseApplication',
		'object' => object(App\Application) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 7 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/RoutingMiddleware.php',
		'line' => (int) 162,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 8 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\RoutingMiddleware',
		'object' => object(Cake\Routing\Middleware\RoutingMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 9 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Routing/Middleware/AssetMiddleware.php',
		'line' => (int) 88,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 10 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Routing\Middleware\AssetMiddleware',
		'object' => object(Cake\Routing\Middleware\AssetMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 11 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Middleware/ErrorHandlerMiddleware.php',
		'line' => (int) 96,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 12 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 65,
		'function' => '__invoke',
		'class' => 'Cake\Error\Middleware\ErrorHandlerMiddleware',
		'object' => object(Cake\Error\Middleware\ErrorHandlerMiddleware) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {},
			(int) 2 => object(Cake\Http\Runner) {}
		]
	],
	(int) 13 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Runner.php',
		'line' => (int) 51,
		'function' => '__invoke',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\ServerRequest) {},
			(int) 1 => object(Cake\Http\Response) {}
		]
	],
	(int) 14 => [
		'file' => '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Http/Server.php',
		'line' => (int) 98,
		'function' => 'run',
		'class' => 'Cake\Http\Runner',
		'object' => object(Cake\Http\Runner) {},
		'type' => '->',
		'args' => [
			(int) 0 => object(Cake\Http\MiddlewareQueue) {},
			(int) 1 => object(Cake\Http\ServerRequest) {},
			(int) 2 => object(Cake\Http\Response) {}
		]
	],
	(int) 15 => [
		'file' => '/home/brlfuser/public_html/webroot/index.php',
		'line' => (int) 39,
		'function' => 'run',
		'class' => 'Cake\Http\Server',
		'object' => object(Cake\Http\Server) {},
		'type' => '->',
		'args' => []
	]
]
$frame = [
	'file' => '/home/brlfuser/public_html/src/Controller/ArtileDetailController.php',
	'line' => (int) 74,
	'function' => 'offsetGet',
	'class' => 'Cake\Http\ServerRequest',
	'object' => object(Cake\Http\ServerRequest) {
		trustProxy => false
		[protected] params => [
			[maximum depth reached]
		]
		[protected] data => [[maximum depth reached]]
		[protected] query => [[maximum depth reached]]
		[protected] cookies => [
			[maximum depth reached]
		]
		[protected] _environment => [
			[maximum depth reached]
		]
		[protected] url => 'latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey/print'
		[protected] base => ''
		[protected] webroot => '/'
		[protected] here => '/latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey/print'
		[protected] trustedProxies => [[maximum depth reached]]
		[protected] _input => null
		[protected] _detectors => [
			[maximum depth reached]
		]
		[protected] _detectorCache => [
			[maximum depth reached]
		]
		[protected] stream => object(Zend\Diactoros\PhpInputStream) {}
		[protected] uri => object(Zend\Diactoros\Uri) {}
		[protected] session => object(Cake\Http\Session) {}
		[protected] attributes => [[maximum depth reached]]
		[protected] emulatedAttributes => [
			[maximum depth reached]
		]
		[protected] uploadedFiles => [[maximum depth reached]]
		[protected] protocol => null
		[protected] requestTarget => null
		[private] deprecatedProperties => [
			[maximum depth reached]
		]
	},
	'type' => '->',
	'args' => [
		(int) 0 => 'artileslug'
	]
]
deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-trace').style.display = (document.getElementById('cakeErr67eff5a2dfa99-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67eff5a2dfa99-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-code').style.display = (document.getElementById('cakeErr67eff5a2dfa99-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-context').style.display = (document.getElementById('cakeErr67eff5a2dfa99-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67eff5a2dfa99-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67eff5a2dfa99-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 59673,
		&#039;title&#039; =&gt; &#039;Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
		&#039;subheading&#039; =&gt; null,
		&#039;description&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
&#039;,
		&#039;credit_writer&#039; =&gt; &#039;ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey&#039;,
		&#039;meta_title&#039; =&gt; &#039;&#039;,
		&#039;meta_keywords&#039; =&gt; &#039;&#039;,
		&#039;meta_description&#039; =&gt; &#039;&#039;,
		&#039;noindex&#039; =&gt; (int) 1,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; null,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 59673,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities&#039;,
	&#039;metaDesc&#039; =&gt; &#039;-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot; title=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot; title=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 59673,
	&#039;title&#039; =&gt; &#039;Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
	&#039;subheading&#039; =&gt; null,
	&#039;description&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
&#039;,
	&#039;credit_writer&#039; =&gt; &#039;ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey&#039;,
	&#039;meta_title&#039; =&gt; &#039;&#039;,
	&#039;meta_keywords&#039; =&gt; &#039;&#039;,
	&#039;meta_description&#039; =&gt; &#039;&#039;,
	&#039;noindex&#039; =&gt; (int) 1,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; null,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {},
		(int) 5 =&gt; object(Cake\ORM\Entity) {},
		(int) 6 =&gt; object(Cake\ORM\Entity) {},
		(int) 7 =&gt; object(Cake\ORM\Entity) {},
		(int) 8 =&gt; object(Cake\ORM\Entity) {},
		(int) 9 =&gt; object(Cake\ORM\Entity) {},
		(int) 10 =&gt; object(Cake\ORM\Entity) {},
		(int) 11 =&gt; object(Cake\ORM\Entity) {},
		(int) 12 =&gt; object(Cake\ORM\Entity) {},
		(int) 13 =&gt; object(Cake\ORM\Entity) {},
		(int) 14 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 59673
$metaTitle = &#039;LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;
$metaKeywords = &#039;Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities&#039;
$metaDesc = &#039;-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...&#039;
$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot; title=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot; title=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey | Im4change.org</title>
    <meta name="description" content="-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p><p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p><p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p><p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p><p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p><p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p><p style="text-align:justify"><em>Pandemic distress</em></p><p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p><p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF" title="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p><p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p><p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p><p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p><p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/" title="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$maxBufferLength = (int) 8192
$file = '/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php'
$line = (int) 853
$message = 'Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853'
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 48
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Code Context
            $response->getStatusCode(),

            ($reasonPhrase ? ' ' . $reasonPhrase : '')

        ));
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-trace').style.display = (document.getElementById('cakeErr67eff5a2dfa99-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67eff5a2dfa99-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-code').style.display = (document.getElementById('cakeErr67eff5a2dfa99-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-context').style.display = (document.getElementById('cakeErr67eff5a2dfa99-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67eff5a2dfa99-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67eff5a2dfa99-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 59673,
		&#039;title&#039; =&gt; &#039;Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
		&#039;subheading&#039; =&gt; null,
		&#039;description&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
&#039;,
		&#039;credit_writer&#039; =&gt; &#039;ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey&#039;,
		&#039;meta_title&#039; =&gt; &#039;&#039;,
		&#039;meta_keywords&#039; =&gt; &#039;&#039;,
		&#039;meta_description&#039; =&gt; &#039;&#039;,
		&#039;noindex&#039; =&gt; (int) 1,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; null,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 59673,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities&#039;,
	&#039;metaDesc&#039; =&gt; &#039;-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot; title=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot; title=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 59673,
	&#039;title&#039; =&gt; &#039;Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
	&#039;subheading&#039; =&gt; null,
	&#039;description&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
&#039;,
	&#039;credit_writer&#039; =&gt; &#039;ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey&#039;,
	&#039;meta_title&#039; =&gt; &#039;&#039;,
	&#039;meta_keywords&#039; =&gt; &#039;&#039;,
	&#039;meta_description&#039; =&gt; &#039;&#039;,
	&#039;noindex&#039; =&gt; (int) 1,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; null,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {},
		(int) 5 =&gt; object(Cake\ORM\Entity) {},
		(int) 6 =&gt; object(Cake\ORM\Entity) {},
		(int) 7 =&gt; object(Cake\ORM\Entity) {},
		(int) 8 =&gt; object(Cake\ORM\Entity) {},
		(int) 9 =&gt; object(Cake\ORM\Entity) {},
		(int) 10 =&gt; object(Cake\ORM\Entity) {},
		(int) 11 =&gt; object(Cake\ORM\Entity) {},
		(int) 12 =&gt; object(Cake\ORM\Entity) {},
		(int) 13 =&gt; object(Cake\ORM\Entity) {},
		(int) 14 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 59673
$metaTitle = &#039;LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;
$metaKeywords = &#039;Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities&#039;
$metaDesc = &#039;-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...&#039;
$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot; title=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot; title=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey | Im4change.org</title>
    <meta name="description" content="-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p><p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p><p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p><p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p><p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p><p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p><p style="text-align:justify"><em>Pandemic distress</em></p><p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p><p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF" title="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p><p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p><p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p><p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p><p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/" title="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$reasonPhrase = 'OK'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitStatusLine() - CORE/src/Http/ResponseEmitter.php, line 148
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 54
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Code Context
                    $value

                ), $first);

                $first = false;
$response = object(Cake\Http\Response) {

	'status' => (int) 200,
	'contentType' => 'text/html',
	'headers' => [
		'Content-Type' => [
			[maximum depth reached]
		]
	],
	'file' => null,
	'fileRange' => [],
	'cookies' => object(Cake\Http\Cookie\CookieCollection) {},
	'cacheDirectives' => [],
	'body' => '<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN"
        "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-trace').style.display = (document.getElementById('cakeErr67eff5a2dfa99-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67eff5a2dfa99-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-code').style.display = (document.getElementById('cakeErr67eff5a2dfa99-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67eff5a2dfa99-context').style.display = (document.getElementById('cakeErr67eff5a2dfa99-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67eff5a2dfa99-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
</span></span></code></pre><pre id="cakeErr67eff5a2dfa99-context" class="cake-context" style="display: none;">$viewFile = &#039;/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp&#039;
$dataForView = [
	&#039;article_current&#039; =&gt; object(App\Model\Entity\Article) {

		&#039;id&#039; =&gt; (int) 59673,
		&#039;title&#039; =&gt; &#039;Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
		&#039;subheading&#039; =&gt; null,
		&#039;description&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
&#039;,
		&#039;credit_writer&#039; =&gt; &#039;ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&#039;,
		&#039;article_img&#039; =&gt; &#039;&#039;,
		&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
		&#039;status&#039; =&gt; (int) 1,
		&#039;show_on_home&#039; =&gt; (int) 1,
		&#039;lang&#039; =&gt; &#039;EN&#039;,
		&#039;category_id&#039; =&gt; (int) 16,
		&#039;tag_keyword&#039; =&gt; &#039;&#039;,
		&#039;seo_url&#039; =&gt; &#039;indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey&#039;,
		&#039;meta_title&#039; =&gt; &#039;&#039;,
		&#039;meta_keywords&#039; =&gt; &#039;&#039;,
		&#039;meta_description&#039; =&gt; &#039;&#039;,
		&#039;noindex&#039; =&gt; (int) 1,
		&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
		&#039;most_visit_section_id&#039; =&gt; null,
		&#039;article_big_img&#039; =&gt; null,
		&#039;liveid&#039; =&gt; null,
		&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
		&#039;edate&#039; =&gt; &#039;&#039;,
		&#039;tags&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
		&#039;[new]&#039; =&gt; false,
		&#039;[accessible]&#039; =&gt; [
			[maximum depth reached]
		],
		&#039;[dirty]&#039; =&gt; [[maximum depth reached]],
		&#039;[original]&#039; =&gt; [[maximum depth reached]],
		&#039;[virtual]&#039; =&gt; [[maximum depth reached]],
		&#039;[hasErrors]&#039; =&gt; false,
		&#039;[errors]&#039; =&gt; [[maximum depth reached]],
		&#039;[invalid]&#039; =&gt; [[maximum depth reached]],
		&#039;[repository]&#039; =&gt; &#039;Articles&#039;
	
	},
	&#039;articleid&#039; =&gt; (int) 59673,
	&#039;metaTitle&#039; =&gt; &#039;LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
	&#039;metaKeywords&#039; =&gt; &#039;Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities&#039;,
	&#039;metaDesc&#039; =&gt; &#039;-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot; title=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot; title=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
	&#039;SITE_URL&#039; =&gt; &#039;https://im4change.in/&#039;,
	&#039;site_title&#039; =&gt; &#039;im4change&#039;,
	&#039;adminprix&#039; =&gt; &#039;admin&#039;
]
$article_current = object(App\Model\Entity\Article) {

	&#039;id&#039; =&gt; (int) 59673,
	&#039;title&#039; =&gt; &#039;Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;,
	&#039;subheading&#039; =&gt; null,
	&#039;description&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;
&#039;,
	&#039;credit_writer&#039; =&gt; &#039;ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&#039;,
	&#039;article_img&#039; =&gt; &#039;&#039;,
	&#039;article_img_thumb&#039; =&gt; &#039;&#039;,
	&#039;status&#039; =&gt; (int) 1,
	&#039;show_on_home&#039; =&gt; (int) 1,
	&#039;lang&#039; =&gt; &#039;EN&#039;,
	&#039;category_id&#039; =&gt; (int) 16,
	&#039;tag_keyword&#039; =&gt; &#039;&#039;,
	&#039;seo_url&#039; =&gt; &#039;indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey&#039;,
	&#039;meta_title&#039; =&gt; &#039;&#039;,
	&#039;meta_keywords&#039; =&gt; &#039;&#039;,
	&#039;meta_description&#039; =&gt; &#039;&#039;,
	&#039;noindex&#039; =&gt; (int) 1,
	&#039;publish_date&#039; =&gt; object(Cake\I18n\FrozenDate) {},
	&#039;most_visit_section_id&#039; =&gt; null,
	&#039;article_big_img&#039; =&gt; null,
	&#039;liveid&#039; =&gt; null,
	&#039;created&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;modified&#039; =&gt; object(Cake\I18n\FrozenTime) {},
	&#039;edate&#039; =&gt; &#039;&#039;,
	&#039;tags&#039; =&gt; [
		(int) 0 =&gt; object(Cake\ORM\Entity) {},
		(int) 1 =&gt; object(Cake\ORM\Entity) {},
		(int) 2 =&gt; object(Cake\ORM\Entity) {},
		(int) 3 =&gt; object(Cake\ORM\Entity) {},
		(int) 4 =&gt; object(Cake\ORM\Entity) {},
		(int) 5 =&gt; object(Cake\ORM\Entity) {},
		(int) 6 =&gt; object(Cake\ORM\Entity) {},
		(int) 7 =&gt; object(Cake\ORM\Entity) {},
		(int) 8 =&gt; object(Cake\ORM\Entity) {},
		(int) 9 =&gt; object(Cake\ORM\Entity) {},
		(int) 10 =&gt; object(Cake\ORM\Entity) {},
		(int) 11 =&gt; object(Cake\ORM\Entity) {},
		(int) 12 =&gt; object(Cake\ORM\Entity) {},
		(int) 13 =&gt; object(Cake\ORM\Entity) {},
		(int) 14 =&gt; object(Cake\ORM\Entity) {}
	],
	&#039;category&#039; =&gt; object(App\Model\Entity\Category) {},
	&#039;[new]&#039; =&gt; false,
	&#039;[accessible]&#039; =&gt; [
		&#039;*&#039; =&gt; true,
		&#039;id&#039; =&gt; false
	],
	&#039;[dirty]&#039; =&gt; [],
	&#039;[original]&#039; =&gt; [],
	&#039;[virtual]&#039; =&gt; [],
	&#039;[hasErrors]&#039; =&gt; false,
	&#039;[errors]&#039; =&gt; [],
	&#039;[invalid]&#039; =&gt; [],
	&#039;[repository]&#039; =&gt; &#039;Articles&#039;

}
$articleid = (int) 59673
$metaTitle = &#039;LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey&#039;
$metaKeywords = &#039;Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities&#039;
$metaDesc = &#039;-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...&#039;
$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-ThePrint.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Pandemic distress&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The &lt;a href=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot; title=&quot;https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF&quot;&gt;RBI reports&lt;/a&gt; that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Data for household debt for the second Covid wave will be available after a few quarters.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Household debt is estimated as households&amp;rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot; title=&quot;https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/&quot;&gt;click here&lt;/a&gt; to read more.&lt;/p&gt;&#039;
$lang = &#039;English&#039;
$SITE_URL = &#039;https://im4change.in/&#039;
$site_title = &#039;im4change&#039;
$adminprix = &#039;admin&#039;</pre><pre class="stack-trace">include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51</pre></div></pre>latest-news-updates/indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey.html"/>
    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>
    <link href="https://im4change.in/css/control.css" rel="stylesheet" type="text/css"
          media="all"/>
    <title>LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey | Im4change.org</title>
    <meta name="description" content="-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households..."/>
    <script src="https://im4change.in/js/jquery-1.10.2.js"></script>
    <script type="text/javascript" src="https://im4change.in/js/jquery-migrate.min.js"></script>
    <script language="javascript" type="text/javascript">

        $(document).ready(function () {
            var img = $("img")[0]; // Get my img elem
            var pic_real_width, pic_real_height;
            $("<img/>") // Make in memory copy of image to avoid css issues
                .attr("src", $(img).attr("src"))
                .load(function () {
                    pic_real_width = this.width;   // Note: $(this).width() will not
                    pic_real_height = this.height; // work for in memory images.
                });
        });
    </script>
    <style type="text/css">
        @media screen {
            div.divFooter {
                display: block;
            }
        }

        @media print {
            .printbutton {
                display: none !important;
            }
        }
    </style>
</head>
<body>
<table cellpadding="0" cellspacing="0" border="0" width="98%" align="center">
    <tr>
        <td class="top_bg">
            <div class="divFooter">
                <img src="https://im4change.in/images/logo1.jpg" height="59" border="0"
                     alt="Resource centre on India's rural distress" style="padding-top:14px;"/>
            </div>

        </td>
    </tr>
    <tr>
        <td id="topspace">&nbsp;</td>
    </tr>

    <tr id="topspace">
        <td>&nbsp;</td>
    </tr>
    <tr>
        <td height="50" style="border-bottom:1px solid #000; padding-top:10px;" class="printbutton">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>

    <tr>
        <td width="100%">
            <h1 class="news_headlines" style="font-style:normal">
                <strong>Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey</strong></h1>
        </td>
    </tr>
    <tr>
        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p><p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p><p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p><p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p><p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p><p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p><p style="text-align:justify"><em>Pandemic distress</em></p><p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p><p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF" title="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p><p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p><p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p><p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p><p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/" title="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>               </font>
        </td>
    </tr>
    <tr>
        <td>&nbsp;</td>
    </tr>

    <tr>
        <td height="50" style="border-top:1px solid #000; border-bottom:1px solid #000;padding-top:10px;">
            <form><input type="button" value=" Print this page "
                         onclick="window.print();return false;"/></form>
        </td>
    </tr>
</table></body>
</html>'

}
$cookies = []
$values = [
	(int) 0 => 'text/html; charset=UTF-8'
]
$name = 'Content-Type'
$first = true
$value = 'text/html; charset=UTF-8'
header - [internal], line ??
Cake\Http\ResponseEmitter::emitHeaders() - CORE/src/Http/ResponseEmitter.php, line 181
Cake\Http\ResponseEmitter::emit() - CORE/src/Http/ResponseEmitter.php, line 55
Cake\Http\Server::emit() - CORE/src/Http/Server.php, line 141
[main] - ROOT/webroot/index.php, line 39

<head>

    <link rel="canonical" href="<?php echo Configure::read('SITE_URL'); ?><?php echo $urlPrefix;?><?php echo $article_current->category->slug; ?>/<?php echo $article_current->seo_url; ?>.html"/>

    <meta http-equiv="Content-Type" content="text/html; charset=utf-8"/>

$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
$dataForView = [
	'article_current' => object(App\Model\Entity\Article) {

		'id' => (int) 59673,
		'title' => 'Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey',
		'subheading' => null,
		'description' => '<p style="text-align:justify">-ThePrint.in</p>

<p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p>

<p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p>

<p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p>

<p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p>

<p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p>

<p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p>

<p style="text-align:justify"><em>Pandemic distress</em></p>

<p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p>

<p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p>

<p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p>

<p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p>

<p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p>

<p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>
',
		'credit_writer' => 'ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/',
		'article_img' => '',
		'article_img_thumb' => '',
		'status' => (int) 1,
		'show_on_home' => (int) 1,
		'lang' => 'EN',
		'category_id' => (int) 16,
		'tag_keyword' => '',
		'seo_url' => 'indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey',
		'meta_title' => '',
		'meta_keywords' => '',
		'meta_description' => '',
		'noindex' => (int) 1,
		'publish_date' => object(Cake\I18n\FrozenDate) {},
		'most_visit_section_id' => null,
		'article_big_img' => null,
		'liveid' => null,
		'created' => object(Cake\I18n\FrozenTime) {},
		'modified' => object(Cake\I18n\FrozenTime) {},
		'edate' => '',
		'tags' => [
			[maximum depth reached]
		],
		'category' => object(App\Model\Entity\Category) {},
		'[new]' => false,
		'[accessible]' => [
			[maximum depth reached]
		],
		'[dirty]' => [[maximum depth reached]],
		'[original]' => [[maximum depth reached]],
		'[virtual]' => [[maximum depth reached]],
		'[hasErrors]' => false,
		'[errors]' => [[maximum depth reached]],
		'[invalid]' => [[maximum depth reached]],
		'[repository]' => 'Articles'
	
	},
	'articleid' => (int) 59673,
	'metaTitle' => 'LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey',
	'metaKeywords' => 'Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities',
	'metaDesc' => '-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...',
	'disp' => '<p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p><p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p><p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p><p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p><p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p><p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p><p style="text-align:justify"><em>Pandemic distress</em></p><p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p><p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF" title="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p><p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p><p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p><p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p><p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/" title="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>',
	'lang' => 'English',
	'SITE_URL' => 'https://im4change.in/',
	'site_title' => 'im4change',
	'adminprix' => 'admin'
]
$article_current = object(App\Model\Entity\Article) {

	'id' => (int) 59673,
	'title' => 'Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey',
	'subheading' => null,
	'description' => '<p style="text-align:justify">-ThePrint.in</p>

<p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p>

<p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p>

<p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p>

<p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p>

<p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p>

<p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p>

<p style="text-align:justify"><em>Pandemic distress</em></p>

<p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p>

<p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p>

<p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p>

<p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p>

<p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p>

<p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>
',
	'credit_writer' => 'ThePrint.in, 11 June, 2021, https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/',
	'article_img' => '',
	'article_img_thumb' => '',
	'status' => (int) 1,
	'show_on_home' => (int) 1,
	'lang' => 'EN',
	'category_id' => (int) 16,
	'tag_keyword' => '',
	'seo_url' => 'indian-family-budgets-are-stretched-they-re-borrowing-more-faster-vaccination-can-fix-this-ila-patnaik-and-radhika-pandey',
	'meta_title' => '',
	'meta_keywords' => '',
	'meta_description' => '',
	'noindex' => (int) 1,
	'publish_date' => object(Cake\I18n\FrozenDate) {},
	'most_visit_section_id' => null,
	'article_big_img' => null,
	'liveid' => null,
	'created' => object(Cake\I18n\FrozenTime) {},
	'modified' => object(Cake\I18n\FrozenTime) {},
	'edate' => '',
	'tags' => [
		(int) 0 => object(Cake\ORM\Entity) {},
		(int) 1 => object(Cake\ORM\Entity) {},
		(int) 2 => object(Cake\ORM\Entity) {},
		(int) 3 => object(Cake\ORM\Entity) {},
		(int) 4 => object(Cake\ORM\Entity) {},
		(int) 5 => object(Cake\ORM\Entity) {},
		(int) 6 => object(Cake\ORM\Entity) {},
		(int) 7 => object(Cake\ORM\Entity) {},
		(int) 8 => object(Cake\ORM\Entity) {},
		(int) 9 => object(Cake\ORM\Entity) {},
		(int) 10 => object(Cake\ORM\Entity) {},
		(int) 11 => object(Cake\ORM\Entity) {},
		(int) 12 => object(Cake\ORM\Entity) {},
		(int) 13 => object(Cake\ORM\Entity) {},
		(int) 14 => object(Cake\ORM\Entity) {}
	],
	'category' => object(App\Model\Entity\Category) {},
	'[new]' => false,
	'[accessible]' => [
		'*' => true,
		'id' => false
	],
	'[dirty]' => [],
	'[original]' => [],
	'[virtual]' => [],
	'[hasErrors]' => false,
	'[errors]' => [],
	'[invalid]' => [],
	'[repository]' => 'Articles'

}
$articleid = (int) 59673
$metaTitle = 'LATEST NEWS UPDATES | Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey'
$metaKeywords = 'Debt burden,Covid-19,Vaccination,Covid-19 Vaccines,Household Debt,Consumer Spending,Consumer Expenditure,Consumer Durables,Personal loans,Reserve Bank of India,RBI Bulletin,Loans against gold jewellery,Borrowings through credit card,Economic Distress,Outstanding liabilities'
$metaDesc = '-ThePrint.in

RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.

The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.

Households...'
$disp = '<p style="text-align:justify">-ThePrint.in</p><p style="text-align:justify"><em>RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority.</em></p><p style="text-align:justify">The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply.</p><p style="text-align:justify">Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data.</p><p style="text-align:justify">The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery.</p><p style="text-align:justify">Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore.</p><p style="text-align:justify">The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold.</p><p style="text-align:justify"><em>Pandemic distress</em></p><p style="text-align:justify">The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far.</p><p style="text-align:justify">The <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF" title="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULLETINMARCH202113071F7DA3F74912BDC44055B5E78E2C.PDF">RBI reports</a> that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal.</p><p style="text-align:justify">Data for household debt for the second Covid wave will be available after a few quarters.</p><p style="text-align:justify">Household debt is estimated as households&rsquo; outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period.</p><p style="text-align:justify">The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave.</p><p style="text-align:justify">Please <a href="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/" title="https://theprint.in/ilanomics/indian-family-budgets-are-stretched-theyre-borrowing-more-faster-vaccination-can-fix-this/675742/">click here</a> to read more.</p>'
$lang = 'English'
$SITE_URL = 'https://im4change.in/'
$site_title = 'im4change'
$adminprix = 'admin'

include - APP/Template/Layout/printlayout.ctp, line 8
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1413
Cake\View\View::_render() - CORE/src/View/View.php, line 1374
Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51

Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey

-ThePrint.in RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority. The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply. Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the formal sector, there will have been borrowing, no doubt, from informal channels, for which there is no data. The RBI data on credit shows a sharp increase in personal loans. In April, personal loans grew at 12.6 per cent. This double-digit growth in personal loans was driven by an 11.7 per cent rise in vehicle loans, 17 per cent higher borrowings through credit card and a sharp 86 per cent increase in loans against gold jewellery. Outstanding loans against gold jewellery given by banks rose by 82 per cent to Rs 60,464 crore as of March. In the year-ago period, such loans were at Rs 33,303 crore. In April, the outstanding loans against gold jewellery rose further to Rs 62,238 crore. The balance-sheet of Indian households is dominated by the presence of physical assets with a high composition of gold. Pandemic distress The economic distress caused by the pandemic has led to a rise in household indebtedness. Data for debt is only available for the first wave so far. The RBI reports that household debt to GDP ratio rose to 37.1 per cent in the July-September quarter of 2020-21 from 35.4 per cent in the previous quarter of the fiscal. Data for household debt for the second Covid wave will be available after a few quarters. Household debt is estimated as households’ outstanding liabilities towards banks, housing finance companies and non-banking finance companies as a share of GDP. The monthly borrowing data suggests that indebtedness might show a significant increase in this period. The personal loan data suggests that in the second wave, households are not spending on consumer durables as they did in the first wave. Please click here to read more.