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India household spending on non-food items rises as urban-rural gap narrows

The article from Reuters, published on December 27, 2024, discusses a significant shift in Indian household spending patterns. According to a recent government survey, there has been an increase in expenditure on non-food items in both urban and rural areas of India. This trend indicates a growing preference for discretionary spending over essential food items. Notably, the gap in spending between urban and rural households has narrowed, suggesting a convergence in consumption patterns. The survey highlights that while food still constitutes a major part of household budgets, the proportion of income spent on food has decreased, allowing for more expenditure on items like clothing, consumer durables, transport, and entertainment. This shift is attributed to rising incomes, better access to goods and services, and changing consumer aspirations. The data reflects a broader economic trend towards increased consumerism and lifestyle upgrades across the country.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/india/india-household-spending-non-food-items-rises-urban-rural-gap-narrows-2024-12-27/ ]