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.
