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Household Debt Marginally Down to 41.9% in Dec: FSR
Financial Express Lucknow
|July 01, 2025
HOUSEHOLD DEBT CAME down from 42.9% of the gross domestic product (GDP) in June 2024 to 41.9% (current market prices) in December 2024, the Financial Stability Report (FSR) showed on Monday.
However, it is still up compared with December 2023, when it stood at 40%. In June 2021, the same was 36.6%.
The Reserve Bank of India (RBI) said India's household debt was lower than that of emerging market economies, which stood at 46.6% of the GDP. Non-housing retail loans, mostly used for consumption purposes, formed 54.9% of the total household debt as of March 2025. The share of these loans has been consistently growing over the years, and their growth has outpaced that of housing, agriculture and business loans, said the report.
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