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Another day, another hidden NSO (earlier known as NSSO) survey, another scoop.
Consumer spending fell for the first time in more than four decades in 2017-18.
Consumer spending had last declined during extraordinary events in India's history.
https://mybs.in/2XAfeWt
Consumer spending fell for the first time in more than four decades in 2017-18.
Consumer spending had last declined during extraordinary events in India's history.
https://mybs.in/2XAfeWt
It was mainly led by a sharp 8.8% fall in consumer spending in villages.
What is more worrying is a decline in food expenditure seen in villages & a flat growth in cities.
People drastically reduced spending on essential food items like salt, sugar, spices, edible oil, etc.
What is more worrying is a decline in food expenditure seen in villages & a flat growth in cities.
People drastically reduced spending on essential food items like salt, sugar, spices, edible oil, etc.
What does this data point to?
According to experts:
*Rising poverty
*Growing malnutrition
It also corroborates a shortage of demand in the economy, driven by the rural market.
According to experts:
*Rising poverty
*Growing malnutrition
It also corroborates a shortage of demand in the economy, driven by the rural market.
The data, which was approved for release by a committee in June 2019, has been withheld by the government thereby meeting the same fate as the periodic labour force survey which had shown a 45-year high unemployment rate of 6.1% in 2017-18.
This report was withheld due to its "adverse" findings, four people aware of the development told @bsindia .
The survey was conducted between July 2019 and June 2018.
All figures are in real terms (as in inflation-adjusted).
The survey was conducted between July 2019 and June 2018.
All figures are in real terms (as in inflation-adjusted).
