Meanwhile, the survey showed that the urban-rural gap in MPCE has declined to 71% in 2022-23 from 84% in 2011-12. It has further come down to 70% in 2023-24 that "confirms sustained momentum of consumption growth in rural areas", the statistics ministry said in a release.
"Increased spending on food items by households is a direct consequence of high food inflation," said Indranil Pan, chief economist, Yes Bank. "But less spending on discretionary items also shows a decline in consumption, partly due to low real-wage growth this year," Pan added.
Former Reserve Bank of India (RBI) governor Shaktikanta Das had stated in the latest MPC minutes that lower inflation will enhance disposable income with households and increase their purchasing power. "Such an approach would support consumption and investment demand," he said.
In August 2023-July 2024, the reference period of the HCES 2023-24, food inflation averaged 8.3% against 6% in the same period of last year, whereas CPI inflation during the period averaged 5.1% against 6.1% in August 2022-July 2023.
The survey revealed that, in nominal prices, the average MPCE (without imputation) in 2023-24 increases by about 10% in rural areas to ₹4,247 and 8% in urban areas to ₹7,078 from the level of 2022-23.
هذه القصة مأخوذة من طبعة December 28, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 28, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
HELLO IMAGINARY FRIEND!
From virtual engagement with real people, the world is turning to real interactions with virtual people, a trend that will just gain prominence in the coming year. We test for ourselves how it is to have an AI avatar for a friend...
SHRINKING SOCIAL CIRCLES
From real to virtual friends, and now AI companions, has technology led to a deeper isolation that we have embedded in our lives?
FAREWELL, DR MANMOHAN SINGH
Biden hails Singh for boosting US-India ties
Hallucinatory AI May Not Necessarily Be a Bad Thing
The smart machines, it turns out, are dreaming up riots of unrealities that help scientists track cancer, design drugs, and even win the Nobel Prize
Putin Apologizes for 'Tragic' Azerbaijani Airplane Crash
But stops short of admitting airliner was shot down
Genome reveals how a small group burst out of Africa
DNA from European fossils dating back 45,000 years offers new clues to how our species spread across the world
What does the future hold for out-of-form India captain Rohit Sharma?
STEVE SMITH WAS said to be a shadow of his best self before he scored a long overdue hundred against India in the Brisbane Test.
Defiant push to change Constitution
Commentators described the BJP-led government as a minority’ government that will force Mr Modi to be more circumspect and restrained. I did not share that view. They thought that Mr Modi will be more deferent to Parliament, but that too was belied by the Winter session. Apparently, on Mr Modi’s instructions, the ministers and MPs carried on in the usual aggressive way, Showed scant respect to Parliamentary rules and conventions, and rode roughshod over the Opposition
Adani Green Forms New Subsidiary for Renewables
ADANI GREEN ENERGY on Saturday incorporated a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited.
Credila Financial Files IPO Papers
EDUCATION LOANS-FOCUSED LENDER Credila Financial Services, formerly known as HDFC Credila Financial Services, has filed papers with markets regulator Sebi for an initial public offering (IPO) through a confidential pre-filing route.
