Indian Household Spending: In India, the world’s largest country in terms of population, people are spending less on food and more on clothing and entertainment. News agency Bloomberg gave this information on Saturday citing the Ministry of Statistics report on the expenditure of Indian households.
Consumer Expenditure Survey
In India, the world’s largest country by population, people are spending less on food and more on clothing and entertainment. News agency Bloomberg gave this information on Saturday citing the Ministry of Statistics report on the expenditure of Indian households. According to this report, the household expenditure of Indian households has doubled in the last 10 years.
Indian households are spending less on food and more on clothing and entertainment. According to a statistics ministry report, the average monthly per capita expenditure in urban areas increased from Rs 2,630 in 2011-12 to approximately Rs 6,459 in the survey conducted between August 2022 and July 2023. In the same period, the expenditure in rural India increased from Rs 1,430 to approximately Rs 3,773.
Surveys show that Indian households are spending less on food while spending more on clothing, recreation and entertainment.
According to the report, the monthly food share in rural areas declined to 46.4 percent from 53 percent in 2011-12. In urban areas, the share of food fell to 39.2 percent from earlier 42.6 percent.
The Consumer Expenditure Survey provides information on the spending of Indian households and is important for assessing demand in the economy. This data will be used by the government to calculate retail inflation and gross domestic product (GDP).
According to a Reuters report, Prime Minister Narendra Modi’s government has not released the 2017-2018 survey. Opponents have accused the administration of hiding economic figures.
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