NABARD
All India Financial Inclusion Survey (NAFIS)
Highlights of NAFIS 2016-17
Income
• Agricultural
households, which accounted for 48% of rural households, earned Rs 107,172
during 2015-16 from cultivation, livestock, non-farm sector activities and
wages/salaries. Thus, farmers’ income grew at a compounded growth rate of 12%
per annum compared to Rs 77,112 per annum as per NSSO assessment in
2012-13. The income levels for 19 out of 29 states are above all India
average and 15 states recorded annual compound growth of above 10.5% between
2012-13 and 2015-16.
• Agricultural
households earned 34% of their income from cultivation. Wage earnings
contributed the same proportion to the income followed by salaries (16%),
livestock (8%) and non-farm sector (6%). Other sources accounted for the rest.
• Non-agricultural
households reported average annual income of Rs 87,228 majorly contributed by
wages (54%), followed by salaries (32%) and non-farm sector activities
(12%). Agricultural households earned 23% more than non-agricultural
households.
Savings & Investment
• 88.1 per cent of the households reported
having a bank account.
• 33% households
reported more than one savings account
• 26% of HH have women
with institutional (including SHG) savings account
• 55 per cent of agricultural households
reported any savings during the last year and of these 53 per cent saved with
institutions like banks, post offices and SHGs.
• Average savings per annum per saver
households was reportedly Rs 17,488, of which 95 per cent is with
institutional agencies
• 10.4 per cent of agricultural households
also reported investment with the average investment per investing agricultural
households was reportedly Rs 62,734.
• For all investments amounting more than Rs
10,000 in the year, 60% of the amount was funded through borrowings from either
institutional or informal sources.
Debt
• Incidence of Indebtedness (IOI), measured
as proportion of households reporting outstanding debt on the date of the
survey, is 52.5% for agricultural households and 42.8% non-agricultural
households were reportedly indebted at the time of survey. All India IOI
taking all rural households together stands at 47.4%.
• Average amount of outstanding debt (AOD)
for indebted agricultural households is reportedly Rs 1,04,602 as on the date
of the survey. Debt outstanding for indebted non-agricultural households is
reportedly Rs 76,731. Overall extent of indebtedness taking all households
combined is Rs 91,407.
• 43.5% agricultural households reported to
have borrowed any money during last year from some source or the other. 60.4%
of them reportedly borrowed from institutional sources exclusively.
Further, 30.3% borrowed from only informal sources and 9.2% of agricultural
households borrowed from both sources. 56.7% of Non-Agricultural households and
58.6% of all households borrowed from institutional sources during last year.
• During the year 2015-16, a borrowing
Agricultural households reportedly availed a loan of Rs 107,083 from various
agencies, 72% of which was availed from institutional sources including MFIs
and SHGs. 69% of borrowings of all households and 65% of non-agricultural
households were from institutional sources.
Insurance and Pension
• About 26% of agricultural households and
25% of non-agricultural households reported to have been covered under one or
the other type of insurance
• Among agricultural households who reported
to have taken any loan for agricultural purposes in the last one year [2015-16]
from institutional agencies, 6.9% reported being covered under crop insurance.
• The coverage under any type of pension was reported
to be about 18.9 % for non-agricultural households as against 20.1 % for
agricultural households
• When assessed for type of pension received,
32% of all households with senior citizens reported being covered by old age
pension.
