Monthly household spending increased by more than double margin in the last decade in India, an official survey revealed. The latest survey of the National Sample Survey Office (NSSO) under the Ministry of Statistics and Programme Implementation revealed that the per capita monthly household expenditure climbed more than double in the 2022-23 fiscal year, against 2011-12 fiscal year in the country.
The survey, titled the Household Consumption Expenditure Survey (HCES), was conducted during the August 2022 to July 2023 period, reported PTI. The study intends to generate estimates of monthly per capita consumption expenditure (MPCE) for every household and its allocation for the rural and urban areas in the country, and the numbers for states and UTs.
The survey found that the average MPCE at current prices increased by over double to Rs 6,459 in urban households in 2022-23, up from Rs 2,630 in 2011-12 fiscal year. The expenses of rural households also climbed to Rs 3,773 in FY23 from Rs 1,430 in FY12 at current prices.
The average MPCE at 2011-12 prices also surged to Rs 3,510 in FY23 from Rs 2,630 in FY12, while it climbed to Rs 2,008 in FY23 to Rs 1,430 in FY12. The average MPCE also climbed (including imputation) to Rs 6,521 in FY23, from Rs 2,630 in FY12 at current prices in urban regions, while it jumped to Rs 3,860 in FY23 from Rs 1,430 in FY12 in rural households.
The expenses’ estimates are calculated on the basis of data gathered from 2,61,746 households, with 1,55,014 homes in rural areas and 1,06,732 homes in urban areas, in the central sample from across states and Union Territories in the country.
This marks the first consecutive Consumer Expenditure Survey (CES) conducted by the statistics ministry, with the second one currently going on for the 12-month period starting August 2023. The survey is important to understand and update the Consumer Price Index (CPI) and the headline inflation rate.
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