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NE states led growth in consumption expenditure during 2023-24: NSO
- Business Standard |
- Economics (Indian Economy) |
- 2024-12-31
- Household Consumption Expenditure
- NORTH EAST
Rural Sikkim and urban Meghalaya led India's growth in monthly per capita consumption expenditure from August 2023 to July 2024, with significant increases in MPCE. Additionally, the Gini coefficient indicated a decrease in consumption inequality in both rural and urban areas.
Household Consumption Expenditure Survey in North-Eastern States
The analysis of household consumption expenditure survey (HCES) data from August 2023 to July 2024 highlights significant growth in monthly per capita consumption expenditure (MPCE) in certain North-Eastern states of India.
Key Highlights
- Rural Sikkim
- MPCE increased by 21.3% to Rs 9,377.
- Rural Tripura
- MPCE grew by 20.2%.
- Rural Nagaland
- MPCE saw a 17.4% growth.
- Rural Mizoram
- MPCE increased by 14.2%.
- Urban Meghalaya
- MPCE rose by 21.9% to Rs 7,839.
- Urban Manipur
- MPCE grew by 21.8%.
- Urban Sikkim
- MPCE increased by 15.1%.
Consumption Inequality
- The Gini coefficient is used as a measure of consumption inequality.
- It declined to 0.237 in 2023-24 from 0.266 in 2022-23 for rural areas.
- In urban areas, it decreased to 0.284 in 2023-24 from 0.314 in 2022-23.
Additional Economic Context
- Crypto Assets: Could potentially negatively impact financial stability as per the RBI report.
- Microfinance Sector: Observed a doubling of stress from April to September as noted by RBI.
- Economic Outlook: High confidence and a bright outlook as per RBI Governor Malhotra.
- Secured Loans: RBI flags risks due to slippages in smaller personal loans.
- External Debt: Stood at $711.8 billion as of September, marking a 4.3% rise from June according to the Finance Ministry.