Household consumption expenditure jumps in India as incomes rise

New Delhi: Household consumption expenditure on goods and services in both the rural and urban areas of India, which reflects the standard of living and well-being of the population, has shown a robust increase over the last decade, according to the latest survey released by the Ministry of Statistics.

The monthly per capita household consumption in rural India jumped by over 40 per cent in 2022-23, after adjusting for inflation, compared to the corresponding figure recorded for 2011-12, according to the survey.

In absolute terms, the monthly per capita consumption expenditure in the country’s rural areas shot up to Rs 2,008 in 2022-23 from Rs 1,430 in 2011-12.

Urban India also recorded a robust gain of 33 per cent with per capita household consumption expenditure rising to Rs 3,510 in 2022-23 from Rs 2,360 in 2011-12, after adjusting for inflation.

Without adjusting for inflation, the figures stood at Rs 6,459 for urban households and Rs 3,773 for rural households in 2022-23, compared to Rs 2,630 and Rs 1,430 respectively in 2011-12, which are higher than the real term increase after adjusting for inflation.

Household consumption expenditure includes spending on food, fuel, electricity, medical services, transport and education.

The survey shows that in 2022-23, food accounted for about 46 per cent of the average rural household’s consumption, while urban households allocated about 39 per cent of their monthly per capita consumption to food.

The survey also reveals that there has been a gradual decline in the per capita consumption of cereals such as rice and wheat in both rural and urban India as people are consuming more pulses, milk, vegetables, fruits, eggs and meat. This change in the consumption pattern reflects an improvement in the standard of living over this period that has been made possible due to the rise in incomes as India has emerged as the world’s fastest-growing major economy.

The survey was carried out in 8,723 villages and 6,105 urban blocks covering as many as 2.62 lakh households across the country.

IANS

 

Indian economy to continue on growth track despite coalition govt: Ridham Desai

New Delhi: Global brokerage firm Morgan Stanley is optimistic about Indian economic growth despite the coalition government. Ridham Desai, MD of Morgan Stanley India, asserted that under PM Narendra Modi's...

India’s forex reserves at historic high of $651.5 bn, CAD to dip: RBI

Mumbai: With a lower trade deficit, robust services export growth and strong remittances, the current account deficit (CAD) is expected to have moderated in the January - March quarter of...

RBI keeps repo rate unchanged at 6.5 pc to maintain balance between growth and inflation

Mumbai: The RBI left the key interest rates unchanged in its monetary policy review on Friday as it continues to maintain a balance between economic growth and keeping inflation in...

RBI raises GDP growth forecast for 2024-25 to 7.2 pc, sees CPI inflation at 4.5 pc

Mumbai: The RBI has raised India’s GDP growth forecast from 7 per cent to 7.2 per cent for the current financial year (2024-25), as it expects the economy to continue...

Shares of Adani Portfolio companies rebound, led by Adani Green

Mumbai: The shares of Adani Group's portfolio of companies made a strong comeback on Wednesday, led by Adani Green Energy and Adani Ports, as the stock markets recovered from Tuesday's...

India to benefit as global oil prices decline by over $4 a barrel

New Delhi: India stands to gain as oil prices have fallen by over 4$ a barrel this week to a four-month low in the international market following the OPEC+ cartel’s...

Rs 26 lakh crore investor wealth erased after Sensex tanks 3,690 points

Mumbai: Indian equity indices saw a steep fall on Tuesday after early counting trends showed a tough contest between the NDA and the opposition INDIA bloc in the Lok Sabha...

Markets likely to see bull rally next week as election jitters go away

Mumbai: As exit polls predicted a thumping majority for the Bharatiya Janata Party (BJP) in the Lok Sabha elections, markets are likely to see a bull rally from Monday onwards...

RBI shifting 100 tonnes gold to India ‘makes no difference’: P Chidambaram

New Delhi: Senior Congress leader P. Chidambaram on Friday said the Reserve Bank of India's (RBI) move to shift around 100 tonnes of its gold kept in bank vaults in...

Banks have recovered Rs 10 lakh crore bad loans during 2014-23: FM Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman said on Friday that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the...

Seoul, Tokyo, Beijing biz leaders agree to form private-sector economic consultative body

Seoul: Business leaders of South Korea, Japan and China have agreed to form a trilateral economic consultative body to promote economic cooperation and resolve pending issues, the country's main business...

​UN raises India’s 2024 growth rate to 6.9 pc; remains world’s fastest-growing large economy

United Nations: Indian economy's growth rate projection for this year has been raised by 0.7 per cent to 6.9 per cent from the forecast made in January by the UN...

Read Previous

We value our partnership for promoting innovation for benefit of humanity: PM Modi to Bill Gates

Read Next

Looking forward to work with you: PM Modi thanks world leaders

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By : XYZScripts.com