The average value of assets (AVA) of the top ten percent of urban households in India is more than seven thousand five hundred times greater than what the bottom ten percent owns. The AVA of the top decile was Rs. 1.5 crores, while the lowest decile owned an average of Rs. 2,000 of assets. The data is part of the All India Debt and Investment Survey - 2019, the survey for...
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Real Wages Declined for Rural Indians in 2022, a Year When the Economy Somewhat Recovered
The year 2022 was supposed to mark the recovery of the Indian economy from the Covid-19 pandemic and lockdowns of the preceding two years. However, the Russian invasion of Ukraine in February pushed up prices of food, fuel and fertilizer worldwide. In India consumer price inflation, which had declined to under 5 percent in the September-November period of 2021, has steadily increased, staying above 6 percent throughout 2022. What happened to rural incomes in 2022? An...
More »Consumer sentiments improve but still too low - Mahesh Vyas
Centre for Monitoring Indian Economy Consumer sentiments improved in January 2023. CMIE's Index of Consumer Sentiments (ICS) reached 83.9, which is the highest since sentiments were hit severely by the Covid-19 induced lockdowns. The ICS, however, continues to remain lower than its pre-pandemic level. The ICS was at 105.3 in February 2020. The recovery in consumer sentiments from the pandemic has been the slowest among all economic indicators. While most production indicators...
More »Jean Dreze: No Point In India Growing So Fast If Wages Stagnate And Social Spending Is Slashed - Shreehari Paliath
Budget 2023's allocations for most critical social security schemes have declined in real terms, says economist Jean Dreze - IndiaSpend The last full Union budget before the next general elections in 2024, which was presented on February 1, gets "a big zero" in terms of welfare spending from economist and social activist Jean Dreze. Budget allocations for most critical social security schemes have declined in real terms, Dreze said. The Union government withdrew...
More »Two Wheelers lag as auto sales surpass pre-Covid peak - Alisha Sachdev
Livemint.com The automobile industry witnessed a strong start to 2023 with retail sales across segments, including passenger and commercial vehicles, and three-wheelers, surpassing the 2020 pre-pandemic levels in January. However, declining income of rural households continued to impact sentiments of two-wheeler buyers, resulting in 13% lower sales during January from a year ago, vehicle registration data compiled by Federation of Automobile Dealers’ Association (Fada) showed. Vehicle registration was up 14% in the...
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