Household Budget

The gaps in urban areas were even wider, with urban Gujarat spending ₹17 and urban Punjab ₹12 on beverages and processed foods for every ₹1 spent on eggs, fish and meat

From food and fuel to healthcare and energy, the Union Budget influences prices through subsidies, tax changes, and government spending

Indian fear that food prices, utilities, household shopping, fuel, and going out are all likely to become more expensive next year: Ipsos Cost of Living report

India's average household spending on food has fallen to less than half for the first time since 1947, according to a recent working paper by the Economic Advisory Council to the Prime Minister (EAC-PM). The paper titled 'Changes in India's Food Consumption and Policy Implications: A Comprehensive Analysis of Household Consumption Expenditure Survey 2022-23 and 2011-12 further said significant changes are unfolding in India's food consumption pattern. According to the paper, the share of total household expenditure on food has declined substantially in rural and urban areas across all states and UTs. "It is the first time in modern India (post-independence) that average household spending on food is less than half the overall monthly spending of households and is a marker of significant progress," it said. The paper is a comprehensive analysis of the Household Consumption Expenditure Survey 202223 and comparison with 201112. "Overall, there has been a significant increase in ...

Currently, family expenses, with an uncertainty score of 78, are the biggest concern among Indians, followed by health and life-related worries

The advisory committee has its task cut out

A report by Motilal Oswal said that households' net savings plummeted to a six-year low level of 18.4 per cent of GDP

The report also notes that the current situation index (CSI) and future expectations index (FEI) are above their pre-pandemic levels (at 89.4 and 118.0 respectively)

Targeting the Centre for releasing an "election-inspired" Household Consumption Expenditure Survey, Congress president Mallikarjun Kharge Tuesday demanded a census be conducted soon for accurate information, insisting it should also incorporate a caste survey. In a post on 'X' in Hindi, Kharge said that after 10 years of "deep sleep", the Modi government has finally come out with an "election-inspired" survey on public expenditure and income. "The Modi government has made an unsuccessful attempt to pat itself on the back in the survey," he said. "We have only one demand, for correct information, the Census of 2021 should be done as soon as possible and a caste census should be a part of it. The Congress party will definitely get it done as soon as its government is formed," the Congress chief added. Kharge said if everything in the country was so shiny as is being shown in the Household Consumption Expenditure Survey, why the poorest five per cent of rural India was spending only R

Annual financial liabilities of households increases by 5.8% of GDP

The government has said that the price rise is temporary and would cool down in 15-30 days

The hike in prices will continue as the supply remains affected, claimed those in the business

On a nominal basis, gross fixed capital formation (GFCF), a proxy for infrastructure investment, contributed 29.2 per cent to FY23 GDP

Nearly half of working women learned about personal finance from social media, it says

The Edelman Trust Barometer found that economic pessimism was at its highest in some of the world's top economies such as the United States, Britain, Germany and Japan

LocalCircles report said CMIE had reported that the consumer sentiments decreased in August after rising in July

Government consumption falls in April-June quarter; inflation and supply chain disruption impacts corporate balance sheets

The figure is also much higher than the corresponding pre-Covid period, data shows

The NSO also released the GDP data for October-December (Q3) of FY22

Budgeting tips: Start with some kind of allocation of your periodical expenses, even if it's very rudimentary. You can adopt a more sophisticated approach later