Archive · 1 Dec 2025
India's Household Debt Rises Sharply
India's household debt has grown a lot in the last few years.
More people are taking loans, and the amount of debt each person has is also increasing.
The government says they don't calculate debt per person, but they do track how much debt people who have loans owe.
Household debts have gone up from Rs 3.8 lakh crore in 2014 to Rs 18.8 lakh crore in 2024.
India's external debt has also increased, reaching Rs 63.94 lakh crore by June 2025.
This means more people and the country itself are borrowing more money.
The number of borrowers in India has more than doubled from 12.8 crore in 2018 to 28.3 crore in 2025.
Total debt outstanding has tripled from Rs 43.6 lakh crore in 2018 to Rs 135.1 lakh crore in 2025.
Average debt per borrower has increased from Rs 3.41 lakh in 2018 to Rs 4.77 lakh in 2025.
Household financial liabilities have grown from Rs 3.8 lakh crore in 2014-15 to Rs 18.8 lakh crore in 2023-24.
India's external debt has risen from Rs 29.7 lakh crore in 2015 to Rs 63.94 lakh crore by June 2025.
- Who
- Indian households and the Indian government
- What
- Increase in household and external debt
- When
- From 2014 to 2025
- Where
- India
- Why
- Expanding economy, better access to credit, and increased borrowing
- Live unique borrowers (2018)
- 12.8 crore
- Live unique borrowers (2025)
- 28.3 crore
- Total debt outstanding (2018)
- Rs 43.6 lakh crore
- Total debt outstanding (2025)
- Rs 135.1 lakh crore
- Average debt per borrower (2018)
- Rs 3.41 lakh
- Average debt per borrower (2025)
- Rs 4.77 lakh
- Household financial liabilities (2014-15)
- Rs 3.8 lakh crore
- Household financial liabilities (2023-24)
- Rs 18.8 lakh crore
- Household financial liabilities (2024-25)
- Rs 15.7 lakh crore (preliminary)
- Household liabilities as % of GDP (2014-15)
- 3%
- Household liabilities as % of GDP (2023-24)
- 6.2%
- India's external debt (2015)
- Rs 29.7 lakh crore
- India's external debt (2025)
- Rs 63.94 lakh crore