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Exploring the importance of the latest Household Consumption Expenditure Survey, revealing shifts in spending behaviors between rural and urban areas, impacts on poverty levels and income distribution in India, and the significance of updated data for poverty reduction, rural development, education, and healthcare accessibility.
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- Shift in household spending patterns reflects economic progress and reduction in poverty.
- Narrowing gap in per capita spending highlights impact of migration on rural-urban dynamics and poverty reduction.
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Changes in Household Spending Patterns
Over the years, household spending patterns in India have shifted significantly. Rural households, for instance, used to allocate a majority of their expenses to food, with the share dropping from 53% in 2011-2012 to 46.4% in 2022-2023. Similarly, urban India also witnessed a decrease in the proportion of spending on food from 42.6% to 39.2%. This change reflects what is known as Engels Law, where as income increases, the percentage spent on food decreases. This shift in expenditure patterns indicates progress towards a better standard of living and a reduction in poverty.
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