THE DYNAMICS OF HOUSEHOLD CONSUMPTION
Why in the news?
The NSSO released the Household Consumption Expenditure Survey 2022-23, providing insights into spending patterns and economic trends in India.
Highlights of Recent Household Consumption Expenditure Survey:
Poverty Reduction:
- Recent survey indicates a 5% poverty rate, as per NITI Aayog’s assessment.
- Findings from the previous survey (2017-18) were not released due to data quality concerns.
Survey Findings:
- Average MPCE increased by 33.5% in urban and 40.42% in rural areas since 2011-12.
- Significant portion of household expenditure is allocated to food items, with 46% in rural and 39% in urban areas.
What is NSO(National Statistical office)?
● Formed in 2019 by merging CSO and NSSO. ● Originated from the C. Rangarajan Committee’s recommendation. ● Operates under the Ministry of Statistics and Programme Implementation (MoSPI). ● Responsibilities include collecting, compiling, and disseminating reliable statistical data. |