• UGI USER
  • Mar 23, 2024
  • 19 Likes
  • 0 Comments

INEQUALITY DIPPED OVER THE PAST DECADE’

Why in the news?

Finance Ministry asserts India’s inclusive growth based on Household Consumption Expenditure Survey findings, highlighting decline in rural-urban divide.

source:IE

About Decline in Rural-Urban Divide:

  • The survey indicates a considerable decline in the rural-urban divide in Monthly Per Capita Consumption Expenditure (MPCE).
  • Consumption among the lowest 5% of the population grew faster than the top 5%, signalling reduced inequality.
  • This trend suggests a positive shift towards inclusivity in economic growth.

Key facts from the Household Consumption Survey:

  • The Finance Ministry highlights findings from the Household Consumption Expenditure Survey of 2022-23.
  • It asserts that India has experienced inclusive growth over the past decade.
  • The Ministry avoids direct engagement in the debate over rising income and wealth inequality.
About the National Sample Survey Office (NSSO).

●  Formed in 2019 by merging the Central Statistical Office (CSO) and National Sample Survey Office (NSSO).

●  Established based on C. Rangarajan Committee’s recommendation.

●  Operates under the Ministry of Statistics and Programme Implementation (MoSPI).

●  Collects, compiles, and disseminates reliable statistical data.