Household consumption expenditure jumps in India as incomes rise
Updated: Jun 10th, 2024
Source: IANS |
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% 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 ₹2,008 in 2022-23 from ₹1,430 in 2011-12.
Urban India also recorded a robust gain of 33%with per capita household consumption expenditure rising to ₹3,510 in 2022-23 from ₹2,360 in 2011-12, after adjusting for inflation.
Without adjusting for inflation, the figures stood at ₹6,459 for urban households and ₹3,773 for rural households in 2022-23, compared to ₹ 2,630 and ₹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% of the average rural household's consumption, while urban households allocated about 39% 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.
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.
(This story was taken from a syndicated feed, and edited only for style by Gujarat Samachar Digital staff)
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