{"id":151513,"date":"2024-10-10T21:18:09","date_gmt":"2024-10-10T21:18:09","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/10\/average-income-of-rural-households-up-58-between-2016-17-2021-22-survey-times-of-india\/"},"modified":"2024-10-10T21:18:09","modified_gmt":"2024-10-10T21:18:09","slug":"average-income-of-rural-households-up-58-between-2016-17-2021-22-survey-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/10\/average-income-of-rural-households-up-58-between-2016-17-2021-22-survey-times-of-india\/","title":{"rendered":"Average income of rural households up 58% between 2016-17 & 2021-22: Survey – Times of India"},"content":{"rendered":"
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NEW DELHI: The average monthly income of rural households witnessed an increase of nearly 58% over a five-year period, rising from Rs 8,059 in 2016-17 to Rs 12,698 in 2021-22, according to a survey released on Thursday.
The second All India Rural Financial Inclusion Survey for 2021-22 conducted by National Bank for Agriculture and Rural Development (NABARD<\/a>) showed that for households average monthly income stood at Rs 12,698, with agricultural households earning slightly more at Rs 13,661, compared to Rs 11,438 for non-agricultural ones.
Salaried employment in govt or private sector was the largest income source for all households, accounting for approximately 37% of their total income.
For agricultural households, cultivation was the main income source, about one-third of their monthly earnings, followed by govt or private services, accounting for one-fourth share, wage labour (16%), and other enterprises (15%), as per the survey conducted in 28 states and UTs of J&K and Ladakh.
Among the non-agricultural ones, govt or private services contributed 57% of the total household income, followed by wage labour which made up for about 26% of the total income, according to the survey results.
The average monthly expenditure of rural households rose significantly from Rs 6,646 in 2016-17 to Rs 11,262 in ’21-’22. Agricultural households reported a higher consumption expenditure of Rs 11,710 than Rs 10,675 for non-agricultural households. In Goa and J&K, monthly household expenditure exceeded Rs 17,000. “Overall, agricultural households demonstrated both higher income and expenditure levels than non-agricultural households,” the survey showed.
The annual average financial savings of households increased to Rs 13,209 in 2021-22 from Rs 9,104 in 2016-17, and overall, 66% of households reported saving money in 2021-22, compared to 50.6% in 2016-17.<\/div>\n