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Consider the following statements regarding Household Consumption Expenditure Survey:
1. It is conducted by the National Statistical Office.
2. It helps to review critical economic indicators like Gross Domestic Product and poverty levels.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding Household Consumption Expe...
For the first time in about 11 years, the government released the broad findings of the All India Household Consumption Expenditure Survey carried out between August 2022 and July 2023.
- It is usually conducted by the National Statistical Office (NSO) every five years.
- This survey aims at generating estimates of household Monthly Per Capita Consumption Expenditure (MPCE) and its distribution separately for the rural and urban sectors of the country, for States and Union Territories, and for different socio-economic groups.
- Highlights of the survey
- The average monthly per capita consumption expenditure (MPCE) in Indian households rose by 33.5% since 2011-12 in urban households to ₹3,510, with rural India’s MPCE seeing a 40.42% increase over the same period to hit ₹2,008.
- The proportion of spending on food has dropped to 46.4% for rural households from 52.9% in 2011-12, while their urban peers spent just 39.2% of their overall monthly outgoes on food compared with 42.6% incurred 11 years earlier.
- This reduction could translate into a lower weightage for food prices in the country’s retail inflation calculations.
- Among the States, the MPCE is the highest in Sikkim for both rural (₹7,731) and urban areas (₹12,105).
- It is the lowest in Chhattisgarh, where it was ₹2,466 for rural households and ₹4,483 for urban household members.
- Significance: The data will play a key role in reviewing critical economic indicators, including the Gross Domestic Product (GDP), poverty levels, and the Consumer Price Inflation (CPI).
Hence both statements are correct.
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Community Answer
Consider the following statements regarding Household Consumption Expe...
Household Consumption Expenditure Survey:
Household Consumption Expenditure Survey is an important initiative undertaken by the National Statistical Office to gather data on the spending patterns of households in a country. This survey plays a crucial role in shaping economic policies and programs.
Correctness of the Statements:
Statement 1: It is conducted by the National Statistical Office.
- This statement is correct. The Household Consumption Expenditure Survey is indeed conducted by the National Statistical Office, which is responsible for collecting and analyzing data related to various aspects of the economy.
Statement 2: It helps to review critical economic indicators like Gross Domestic Product and poverty levels.
- This statement is also correct. The data collected through the Household Consumption Expenditure Survey is used to review and analyze critical economic indicators such as Gross Domestic Product (GDP) and poverty levels. By understanding how households are spending their money, policymakers can make informed decisions to improve the overall economic well-being of the country.
Therefore, both statements are correct, and the correct answer is option C - Both 1 and 2.
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Consider the following statements regarding Household Consumption Expenditure Survey:1. It is conducted by the National Statistical Office.2. It helps to review critical economic indicators like Gross Domestic Product and poverty levels.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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