Context: The rising debt burden of Indian households’ points to a crisis in the near future.
Rising household debt
Case Studies on micro-trends in borrowing patterns for households: Undertaken by Centre for New Economics Studies (CNES) in migrant-residential settlements located near Delhi, Lucknow, Surat and Pune.
Way forward: Creating better access to institutional credit, incorporating use of tech-based online financing options and channelling direct transfers from government coffers to low-income groups are some of the immediate measures needed.