Current Affair 1:

NABARD All-India Rural Financial Inclusion Survey (referred to as NAFIS 2021-22) is a national-level survey commissioned by the Department of Economic Analysis & Research (DEAR), NABARD.

The survey covered all States of the country and Union Territories of Jammu & Kashmir (J&K) and Ladakh.

Key highlights of NAFIS 2021-22

1. Average monthly income of households increased by 57.6% during the five-year period from Rs 8,059 in 2016-17 to Rs 12,698 in 2021-22.
2. Average monthly expenditure of households increased during the five-year period from Rs 6,646 in 2016-17 to Rs 11,262 in 2021-22.

1. The share of food in the consumption basket of households declined from 51% in 2016-17 to 47% in 2021-22.
2. Annual average financial savings made by households increased to Rs 13,209 in 2021-22 from Rs 9,104 in 2016-17.

1. The proportion of households who reported to have outstanding debt moved up from 47.4% in 2016-17 to 52.0 % in 2021-22.
2. The proportion of agricultural households that took loans from institutional sources only increased from 60.5% in 2016-17 to 75.5% in 2021-22 (the corresponding increase for non-Agri households was from 56.7% in 2016-17 to 72.7% in 2021-22).
3. The proportion of Agri-households that took any loan from non-institutional sources only decreased from 30.3% in 2016-17 to 23.4% in 2021-22.
4. Kisan Credit Card (KCC) coverage has increased significantly during the last five years.

      

1. The proportion of households with at least one member having any type of insurance increased from 25.5% in 2016-17 to 80.3% in 2021-22.
2. The proportion of households with at least one member receiving any type of pension (old age, family, retirement, disability, etc.) increased from 18.9% in 2016-17 to 23.5% in 2021-22
3. The proportion of respondents indicating good financial literacy increased by 17 percentage points, i.e., from 33.9% in 2016-17 to 51.3% in 2021-22.
4. Average size of landholding declined from 1.08 hectare in 2016-17 to 0.74 hectare in 2021-22.

 

 

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