Andhra Pradesh leads the country in the number of borrowers, as reported in the Comprehensive Annual Modular Survey (2022-23) by the Union Ministry of Statistics. The data shows that an average of 60,092 people per 100,000 in the state took loans during this period, with Telangana in second place at 42,407 and Tamil Nadu at 35,703.
The borrowing trends in Andhra Pradesh reveal a slight gender disparity, with 60,144 men and 60,043 women classified as indebted. Interestingly, rural areas show different patterns, but approximately 98% of adults in the state have bank accounts.
While the former Chief Minister Jagan Mohan Reddy is often criticized for the state’s rising debt under his leadership, this borrowing trend may also reflect the high number of self-help groups, such as DWACRA, which could contribute to these significant figures.
This post was last modified on 3 November 2024 6:44 am
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