Household Consumption Expenditure Survey shows urban-rural gap has narrowed, particularly at lower levels of consumption, implying effectiveness of govt policies in improving rural incomes.
Other key findings include spending on food falls in expenditure of rural households in 11 years. Report made after survey of 2.76 lakh-plus households across country.
According to govt data, food & household utilities were the only bundle of goods that witnessed a positive growth rate in 2020-21, the first pandemic year, compared to previous financial year.
According to Pronab Sen, any data that is collected by a door-to-door survey will be impacted by the pandemic as govt won’t permit field investigators to take that risk.
Finance Minister Nirmala Sitharaman has announced collateral-free loans, credit guarantees, capital infusion and various other liquidity-boosting measures for MSMEs, NBFCs & DISCOMs.
Although economists have warned against decisions like America First and Brexit, India does have the edge when it comes to boosting domestic consumption post-coronavirus.
The reach and impact of influencers are so significant that even politicians such as Prime Minister Narendra Modi have recognised their value—the National Creators Award is proof.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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