Key Points
Indias poverty rate declined to 4.5-5% in 2022-23, SBI Researchers said Tuesday, with rural poverty declining to 7.2% from 25.7% in 2011-12 and urban poverty down to 4.6% from a decade ago period, according to the new Household Consumption Expenditure Survey data...
SBI Researchers estimated the new poverty line or the basic level of consumption required was Rs 1,622 for rural areas and Rs 1,929 for urban areas...
Indias poverty rate had declined to 11.6% for rural areas and 6.3% for urban areas, according to a World Bank paper...
The new formula is derived by using the recommendations of an expert group headed by Suresh Tendulkar, based on which a Rs 816 poverty line for rural and Rs 1000 for urban areas was determined for 2011-12...
Starting with 2011-12 poverty line estimate of Rs 816 in rural area and Rs 1000 in urban area, the new poverty line was adjusted for decadal inflation and imputation factor derived from NSSO report, SBI researchers pointed out...
You might be interested in
Rural spending getting captured in urban consumption; women SHGs helping boost incomes: SBI Research
11, Mar, 24According to SBI Research, improvements in physical infrastructure and connectivity have led to a shift in rural demand and supply patterns, with rural spending being captured in urban areas. The phenomenal growth in the income of self-help groups and increased banking linkages are contributing factors, with rural female labour force participation rising due to the support provided by self-help groups.
Brookings report backs PM Modi's policy thrust, says it helped eliminate extreme poverty
02, Mar, 24A commentary authored by economists Surjit Bhalla and Karan Bhasin from The Brookings Institution stated that the pace of poverty reduction in India is remarkable, with the country witnessing a decline that previously took three decades to achieve, now realized over just 11 years.
From beverages, packed food to medicines: How India’s spending patterns stack up
25, Feb, 24Food’s share in total household spending is now less than half in rural areas for the first time, official survey data showed. On average, a rural person spent ₹3,773 per month, compared to ₹6,459 per month in urban areas.
High food prices lift inflation to 4-mth high of 5.6% in Dec
16, Jan, 24Huge price rise in vegetables, pulses and spices pushed retail inflation to a four-month high of 5.69% in December 2023, mainly on account of continuing...
Mint Explainer: What does the latest survey of household consumption spending reveal?
26, Feb, 24Significantly, the share of spending on food has fallen below 50% for the first time in rural India.
Here are 5 key takeaways from Household Consumption Expenditure Survey 2022-2023 highlights
27, Feb, 24Other key findings include spending on food falls in expenditure of rural households in 11 years. Report made after survey of 2.76 lakh-plus households across country.