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.
Denne historien er fra December 28, 2024-utgaven av Financial Express Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 28, 2024-utgaven av Financial Express Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Special category visa for foreign students
INDIA HAS LAUNCHED two special category visas for international students intending to pursue higher education in academic institutions in the country.
Stars who couldn't walk the talk
IN THE END, just one Indian could get on top of the dias at the presentation ceremony of Border-Gavaskar Trophy (BGT). Jasprit Bumrah, the captain and the man of the series.
Indian-Origin IT Companies Corner a Fifth of H-1B Visas
INDIAN-ORIGIN TECH COMPANIES cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services (TCS) leading the pack, an analysis of data from the US immigration department showed.
PM Criticises AAP, Promises BJP Will Continue Welfare Schemes If Voted In
● They are lying that we will stop schemes: Modi
Four Maoists, jawan killed in first Bastar encounter this year
FOUR MAOISTS WERE gunned down on Saturday afternoon in the first encounter this year between Naxals and security forces in Chhattisgarh's Bastar region.
3 Killed as Coast Guard Chopper Crashes at Porbandar Airport
A Coast Guard chopper crashed at Porbandar airport in Gujarat on Sunday as it was landing after a routine training sortie, killing two pilots and a diver who were on board.
Projects Unveiled by PM Are Joint Ventures With State: Kejriwal
AS PRIME MINISTER Narendra Modi inaugurated key infrastructure projects in Delhi on Sunday, Aam Aadmi Party chief and former chief minister Arvind Kejriwal called them 'joint ventures' with the Centre and said it was proof that the government in the city works only for its citizens.
A win-win solution
● Platform becomes match-maker for India Inc & startups
No need to run an air purifier and room heater at the same time
● It heats in winter and purifies indoor air all year round
Track kids' location in real-time
A 4G smartwatch with large display and GPS tracking
