Households

Households are now allocating a greater share of household consumption expenditure to non-food spending on consumables and services, and durable goods, according to a working paper of the Economic Advisory Council to the Prime Minister (EAC-PM). EAC-PM in a working paper titled 'Changes in Durable Goods Ownership in India: Analysis of the Household Consumption Expenditure Survey 2011-12 and 2023-24' on Friday noted that the share of of the monthly per capita expenditure (MPCE) spent on durables has risen in both rural and urban areas, with the rural share slightly surpassing that of urban households in many states. Further, in absolute values (rupees), spending has increased across all states and sectors, with higher absolute expenditure in urban households. "Consequently, a greater share of household consumption expenditure is now non-food spending on consumables and services, and durable goods. Consumables and services are the largest component of household spending in urban areas

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