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Source-This post on Household Consumption Expenditure Survey (HCES) 2022-23 has been created based on the article “The dynamics of household consumption” published in “The Hindu” on 6 March 2024.
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News-The article discusses the significance of Household Consumption Expenditure Survey for diverse sectors. Household Consumption Expenditure Survey
What is the All-India Household Consumption Survey?
- About the Survey– The Household Consumption Expenditure Survey (HCES) is conducted to gauge household spending habits. It provides crucial insights into household consumption patterns, their living standards and overall well-being.
- Conducted by– It is a quinquennial survey (recurring every five years) conducted by the National Sample Survey Office (NSSO), (which now comes under the National Statistical Office in the MoSPI).
Read more- All India Household Consumption Expenditure Survey 2022-23
What is the significance of conducting household surveys?
1) Poverty estimation-Since 1950-51, this survey has been a crucial factor in estimating the head count ratio.Head count ratio is the percentage of the population living below the national poverty line.
2) Consumer price inflation-The information obtained from HCES is instrumental in constructing a weighing diagram for Consumer Price Indices and understands the overall consumption patterns of households.
3) Deploying modern technology– There was a positive shift to the modern and efficient computer-assisted personal interview method from the traditional paper-aided personal interview method. This shift fastened data collection and processing.
4) Introduction of contemporary items– There were questions on consumption of items such as paneer, LED bulbs, headphones, and details on online purchases and the removal of obsolete items. This highlights the fact that digital tools and services have become an indispensable part of household consumption.
The Household Consumption Expenditure Survey 2022-23 is a testament to India’s commitment to a resilient statistical system embracing both tradition and innovation.
Question for practice
Highlight the significance of recently held Household Consumption Expenditure Survey 2022-23?
