Archive · 5 Dec 2025
India's Household Debt Doubles in Seven Years
In India, many more people are taking loans to buy things or pay for expenses.
Seven years ago, 12.8 crore people had loans, but now 28.3 crore people do.
The total amount of money borrowed has also gone up a lot, from Rs 3.8 lakh crore to Rs 15.7 lakh crore.
This means that on average, each person with a loan owes about Rs 4.8 lakh.
While this can help the economy grow, it could also be a problem if people's incomes don't grow as fast as their debts.
Number of Indians with outstanding debt more than doubled from 12.8 crore in 2017-18 to 28.3 crore in 2024-25.
Household financial liabilities surged from Rs 3.8 lakh crore in FY2015 to Rs 15.7 lakh crore in FY2025.
Household debt as a percentage of GDP increased from 3% in FY2015 to 4.7% in FY2025.
Average debt per borrower rose from Rs 3.4 lakh in FY2018 to Rs 4.8 lakh in FY2025.
Household borrowing is a key driver of economic growth but also a potential vulnerability if income doesn't keep pace with debt.
- Who
- Indian households
- What
- Household debt has doubled in seven years
- When
- From 2017-18 to 2024-25
- Where
- India
- Why
- Growing dependence on loans to meet aspirations and expenses
- Number of borrowers
- 28.3 crore (2024-25)
- Household debt (FY2025)
- Rs 15.7 lakh crore
- Household debt (FY2015)
- Rs 3.8 lakh crore
- Debt as % of GDP (FY2025)
- 4.7%
- Average debt per borrower (FY2025)
- Rs 4.8 lakh