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Survey Report: The Statistics Ministry has released a survey report on the lifestyle and expenditure of Indians. On the basis of this report, NITI Aayog CEO BVR Subramaniam has given a big statement.
Sharing the summary of the released survey report on consumption and expenditure, he claimed that the poor population in India may now be less than 5 percent. The report also made major revelations about the total household expenditure of Indians.
According to the report, there has been a big change in the total expenditure of the Indian family in the last 10 years. According to the Household Consumption Expenditure Survey 2022-23, the monthly per capita consumption expenditure of the bottom 5 percent of the country's people in rural India is Rs. 1,441 and in urban India Rs. Is 2,087. According to the survey, household expenditure has doubled, while people have reduced spending on food and drinks. According to the report, people are now spending less on food and drinks and more on other things.
The CEO of NITI Aayog said that the recent survey has shown that consumption in rural areas has increased, thereby reducing the consumption gap between rural areas and urban areas. These figures could also mean a rapid reduction in poverty levels in the country. BVR Subramaniam said, “Based on this data, the poverty level in the country can be 5% or less.”
Subramaniam says the data shows that the gap between rural and urban consumption has almost disappeared. He said that this data could affect the determination of interest rates by the RBI. The share of food and grains in the retail inflation index is low. He said the data has removed doubts about the state of the rural economy.
According to a report released by the Ministry of Statistics on household expenditure of Indian households, people's household expenditure has more than doubled in the last ten years. While the report shows that Indian households are now spending less on food items, spending on non-food items such as refrigerators, televisions, beverages, processed foods, medical care, transportation and entertainment-related items has increased.
Poverty level is calculated on the basis of consumption-expenditure data. There is a lot of discussion about the number of poor. Data for 2017–18 was not released, so it is the most recent data since 2011–12.
The survey shows that at current prices, rural monthly per capita consumption expenditure has increased from Rs 1,430 in 2011-12 to Rs 3,773 in 2022-23, while in urban centers it increased by 146% from Rs 1,430 in 2011-11. Is. 2,630 and will increase to Rs 6,459 in 2022-23.
In rural areas, the share of food in monthly consumption has declined from 53% in 2011-12 to 46.4% in 2022-23, while expenditure on non-food items has increased from 47.15 to 54%. Something similar has happened in urban areas also. According to the survey, expenditure on food in cities declined from 43% in 2011-22 to 39.2% in 2022-23, while expenditure on non-food items increased from 57.4% in 2011-12 to 60.8% in 2022-23.
In 2014, a panel headed by former RBI governor C Rangarajan had pegged per capita monthly expenditure in urban areas at Rs. 1,407 and in rural areas Rs. Estimated to be 972. New data has revealed that the average monthly consumption expenditure of the bottom 5 to 10% of the population in rural areas is Rs. 1,864 and in urban centers Rs. is 2,695