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.
Bu hikaye Financial Express Chandigarh dergisinin December 28, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Financial Express Chandigarh dergisinin December 28, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
India Leads in Disaster Management, Says Shah
BACKED BY RESILIENT infrastructure in the area of disaster management, India has emerged as a global leader in the sector by adopting a 'zero casualty' goal during calamities, Union home minister Amit Shah said on Sunday.
Modi hails makers of Constitution, lauds EC for impartial polls
ADDRESSING THIS YEAR'S first edition of his monthly broadcast, Mann Ki Baat, Prime Minister Narendra Modi paid tribute to the makers of the Constitution-B R Ambedkar, Rajendra Prasad and Shyama Prasad Mukherjee, who participated in the Constituent Assembly debates.
Diplomacy Just As Vital As Expertise To Run Restaurant
I have two pieces of pat advice for anyone rash enough to approach me for counsel. First, never speak to the press. Second, don't open a restaurant.
A bigger playing field
● The male consumer has evolved, so it's time for Smart and Handsome to flex
Mkt volatility may force life insurers to rethink ULIP plans
A PROLONGED VOLATILITY in the stock markets could dampen the investor appetite for unit linked insurance plans (ULIPs), prompting life insurers to shift the focus towards guaranteed income and pure protection plans like term insurance, industry experts said.
Bank of Japan set to raise interest rates
BANK OF JAPAN governor Kazuo Ueda will size up the need to raise interest rates on Friday amid heightened expectations of a hike — and barring a market shock triggered by Donald Trump's first few days in the White House.
A handy tool for home security
It captures clear video footage up to 20 metres
We are living in a 24x7 economy
A FEW DAYS AGO, L&T chairman SN Subrahmanyan's comments on the 90-hour work week, and \"how long can you stare at your wife\", followed by company's HR head Sonica Muraleedharan's subsequent clarificatory statement, have sparked widespread public debate.
Skilling shouldn't be on a budget
● Focus on women, migrant workers, infrastructure
LTIMindtree hopeful of sustaining growth momentum going ahead
FY26 TO OUTPERFORM FY25, SAYS MD & CEO
