VIJAYAWADA/HYDERABAD: Andhra Pradesh stood first in the country with the highest number of borrowers, according to the Comprehensive Annual Modular Survey - 2022-23 (National Sample Survey 79th round) released by the Union Ministry of Statistics.
According to the survey, on average, 60,092 people out of one lakh took loans in 2022-23. Telangana stood second with 42,407 people taking loans, and Tamil Nadu, at 35,703, had the third highest number of individuals taking loans from banks and other financial institutions.
The survey revealed that males in Telangana are more indebted than females. The case is similar for Andhra Pradesh, with rural areas being an exception. While an average of 60,144 men took loans in Andhra Pradesh, 60,043 women have debts.
A person is considered indebted if he or she has taken a cash loan of Rs 500 or above from banks or other financial institutions and that loan remained outstanding as of the date of the survey. According to the report, 98% of the people aged 18 and above in Andhra Pradesh have bank accounts. In Telangana, the number stood at 97.5%.
Per Capita Debt of State put at Rs 1,44,336
Statistics issued by the State government reveal that in 2023-24, the Per Capita Debt in Andhra Pradesh was Rs 1,44,336, while the Per Capita Income was Rs 2,70,295.
According to the white paper released by Chief Minister N Chandrababu Naidu after the NDA government took charge in the State, the Per Capita Income growth rate fell to 9.06% during the YSRC regime from 13.21% during the previous TDP regime (2014-2019). The survey also reveals other interesting facts. According to it, Telangana has more persons, aged 21 and above, who have graduated in science and technology than the national average.
Telangana has 62.3% of graduates in the science and technology stream, with Andhra Pradesh closely following at 58.5%. Of these graduates in science and technology in Andhra Pradesh, 60.1% are males and 56% are females.
Borrowers per 1 lakh (18 & above)
Rural
60,427
Male
64,953
Female
Urban
59,495
Male
48,887
Female
