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Hindustan Times quotes data from Indicus Consumer Handbook.
Higher economic Growth has resulted in higher poverty reduction.
Indicus Consumer Handbook provides an overview into the state of the Indian economy, its growth, expenditures by households, income distribution as well as issues of ineuqlity. This is followed by an overview of some of the broad areas covered in this volume.
The idea is to provide to the student and practitioner alike, a basic overview of the key demographic and macro-economic variables that affect consumer decisions in the short and long term. The discussion that follows then seeks to tie-in the key aspects that determine and reflect consumer behaviour in India.
High growth has contributed to greater incomes for Indian households which in turn has enabled Indian households to both save and spend more. We have in the past few years observed that household sector savings have in fact grown by far more than any of the other other macro-indicators. This is of course a desirable outcome. Greater incomes do imply greater expenditures in the short term, but greater savings (if translated into good quality investments) ensure long term growth of the economy, employment opportunities, and household incomes.