The Gender Gap at Home
Also this week, the changing nature of Indians' savings and debt, and the impact of unseasonal rains on Lakhimpur Kheri's banana crop
This week on IndiaSpend, we dive into critical issues shaping India’s social and economic landscape--from the persistent gender gap in unpaid domestic work, where women bear a disproportionate burden, to the evolving financial habits of Indian households, with rising debt and shifting savings patterns. Additionally, we spotlight the devastating impact of unseasonal storms on Lakhimpur’s banana farmers, highlighting the growing threat of erratic weather to agriculture.
Indian Men Lag in Unpaid Domestic Work, Leaving Women Overburdened
Indian men spend significantly less time on unpaid domestic and caregiving work compared to women, with their efforts mostly limited to outdoor tasks like shopping and playing with children, per the 2024 Time Use Survey. Women dedicate 150% more time to these tasks, shouldering the bulk of mental and physical labor, which restricts their opportunities for paid work and self-care.
While participation in domestic duties rises with higher consumption levels, caregiving declines. Employed individuals show slightly higher participation, but men’s time on unpaid work remains low. Northeastern states and Kerala see higher male involvement, unlike Gujarat, Maharashtra, and West Bengal. This disparity underscores a systemic issue, with women’s unpaid work—valued at 3.1% of GDP—often unrecognized, perpetuating gender inequities. A report by research scholar Shraddha Jain
Indian Households Shift Savings, Borrow More Amid Rising Debt
Over the decade to 2023-24, Indian households’ financial savings have diversified, with deposits dropping from 56% to 41% of assets while stocks (2% to 9%), small savings, government bonds, and pension funds (15% to 21%) gained popularity, per MoSPI and RBI data.
Total financial assets reached Rs 320 trillion ($3.7 trillion), but liabilities hit Rs 121 trillion ($1.4 trillion), with liabilities at 55% of assets in 2023-24, the highest since 1970-71.
Bank loans fell from 92% to 76% of liabilities, while non-banking financial company loans rose from 2% to 21%. Net financial savings dropped 33% since the post-pandemic peak to Rs 15.5 trillion, the lowest in five decades. Gold and silver remain stable savings options, with poorer households holding 24% of wealth in gold, compared to 2% for the wealthiest.
Hiding in that mass of data is a sombre truth: The rising debt-to-asset ratio, especially among poorer households reliant on gold, signals growing financial vulnerability and crippling economic pressures. Vijay Jadhav reports
Unseasonal Storms Devastate Banana Crops in Lakhimpur Kheri
On May 21, 2025, unseasonal storms and heavy rain destroyed banana crops across 700-800 acres in Lakhimpur Kheri’s Nighasan and Palia tehsils. Ironically, area farmers had shifted to banana cultivation after facing losses in sugarcane, and now find about 80% of the ready-to-harvest banana crop is ruined.
Farmers like Harvinder Singh and Omkar Singh reported losses of nearly Rs 1.5 lakh per acre, with surviving crops damaged by intense heat. The district’s banana cultivation area grew from 1,800 hectares in 2024 to 2,400 hectares in 2025, but erratic weather poses a growing threat. For IndiaSpend Hindi, a video report by Dharmendra Rajput
That's it from us for this week, which ends on a sombre note in the shadow of the devastating crash of Air India Flight AI171--a Boeing 787-8 Dreamliner that crashed shortly after takeoff from Ahmedabad airport. 241 of the 242 people on board have perished, as also 28 individuals in BJ Medical College in the Meghani Nagar area of Ahmedabad, who died when the plane crashed into the hostel block. Our thoughts and prayers are with the families of the victims of what is one of the most catastrophic disasters in India's aviation history.