India - Employment and Unemployment: NSS 61st Round, Schedule 10, July 2004 - June 2005

For each loan, the total amount due on the date of survey (i.e. the outstanding principal plus the interest due) will be recorded in column (5) in whole number of rupees. Initial discount allowed, if any, in the principal should be taken into account while recording the total amount of loan outstanding on the date of survey. Suppose the value of an item of hire purchases is Rs. 5,000/- and 10% off-season discount is allowed, then the loan under this situation will be considered as Rs. 4500/- only. Account should also be taken of any advance deduction made at the time of giving loan. Thus, for a loan of Rs. 100/-, if Rs. 10/- is deducted as interest at the time of receiving the loan, the entry against this column will be Rs. 100/- and not Rs. 90/-. If only one loan is recorded in column (5), the amount of that loan should be repeated in the line meant for recording 'total'. If information is recorded for two or more loans, the total amount of all such loans taken together should be recorded in the line meant for recording 'total'.

The procedure adopted for making entries in regard to credit purchase requires elaboration. In the case of credit purchase, it should first be ascertained whether such credits are really due on the date of survey or not. Thus, in case of milk and some other items purchased on credit, the payments are usually made at the end of the month, whereas, the payments are in fact due on the dates of purchases and not at the end of the month. Therefore, on the date of survey all credit purchases made of such items, till that date is due and hence they will be treated as outstanding loans. On the other hand, since the payments of wages to domestic servants or payments of the amounts on account of house rent or electricity charges are usually made after a given period, say one month, the amount of payment should be considered as loan only after expiry of the stipulated date of payment of such charges.