Do you believe that your food habits and the way of consumption are still the same as it was about a decade back? Well, for most people, their preferences and habits have changed indeed. While there is a shift towards preferring healthy and organic food items, there is also a surge in exploring cafes and restaurants, especially among youngsters. Well, recent data revealed how Indians are spending money on different food habits and expenses.
Here’s How Indians Are Spending On Food Expenses
It does not come as a major surprise how the expenditure of many Indian families has increased by twice or even more in a span of a decade. In a recently released report of the Statistics Ministry, it has been revealed that more and more consumers are getting inclined towards purchasing discretionary products. According to different reports surfacing online, Indian consumers are spending a lot more money on discretionary items, unfortunately.
The sale of processed food has seen a major uptick and the report also revealed how Indians are spending more on these food items. Along with these, a major chunk of the consumers’s expenditure also covers entertainment options, clothes and outfits, televisions, and fridges. Sadly, Indians are spending lesser amounts on the most important things, staple food items. The government data showed how the spending is less for wheat and rice.
This recent survey found out how the food share in monthly consumption has seen a noticeable decrease in rural places. From 53 per cent back in 2011-2012, the percentage has dropped to 46.4 now, according to a report by LiveMint. The shocking part is that consumption of non-food items has seen a rise in comparison to the past. From 47 per cent, it is now at 53.6 per cent. The average monthly per capita consumer spending in rural areas increased from ₹1,430 in 2011-12 to ₹3,773 (estimated) between August 2022 and July 2023, as per the survey.
Also read: World’s Largest Grain Storage Programme Launched By PM Modi; Govt To Spend ₹1.25 Lakh Crore On It
And What About The Consumption In Urban Places?
The findings of the survey shared how the monthly per capita consumer spending on average has risen. It was ₹2,630 back in 2011-12 and now it jumped to ₹6,459 (estimated) in the period between August 2022 and July 2023. The food and non-food shares saw a shift in urban areas as well, as per the latest survey. In comparison to 42.6 per cent, the food share dropped to 39.2 per cent. And for non-food products, the numbers jumped from 57.4 per cent to 60.8 per cent.
Have your personal spending increased in the last few years?
Cover Image Courtesy: Canva
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