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Context:
Consumption inequality declined across rural and urban areas between Aug 2023 and July 2024 compared to the previous year, a survey showed.
Key Highlights:
- A sustained momentum in rural consumption continued and the gap between rural and urban narrowed in 2023-24 compared to 2022-23.
- The Gini coefficient, a statistical measure of inequality in the population, declined to 0.237 in 2023-24 from 0.266 in 2022-23 for rural areas and to 0.284 in 2023-24 from 0.314 in 2022-23 for urban areas.
- Average Household Consumption
- According to the HCES, average household consumption expenditure in India has increased by 3.5% from August 2023 to July 2024.
- This indicates a narrowing of the divide between rural and urban spending, and it brings down inequalities in consumption.
- Source
- By the Union Statistics Ministry, estimates relating to poverty status levels are released on the basis of HCES findings and updated Consumer Price Index (CPI) data for use in measuring economic well-being.
