|
|
'Consumption of consumer durables high in rural South India'
|
|
|
|
Top Stories |
|
|
|
|
SME Times Nes Bureau | 11 Apr, 2014
With increasing purchasing power and aspiration for a better life
in the villages, Karnataka, Andhra Pradesh, Kerala, Rajasthan, Tamil
Nadu and Gujarat have registered a phenomenal growth in 'rural'
consumption of consumer durable goods and surprisingly the overall trend
in rural areas during the period of 2007-08 and 2011-12 was higher than
the cities, according to the study brought out by ASSOCHAM. The
top five states which registered phenomenal growth rate of durable
goods rural consumption expenditure were Karnataka (59.5 %), Andhra
Pradesh (44.3%), Rajasthan (40.7%), Kerala (40.4%) and Gujarat (37.0%)
during the period.
As per the CSO data, most of the states
witnessed a double digit growth in consumer durables goods expenditure
and much higher than all India during the 2007-08 to 2011-12.
The
other states which have recorded robust growth rate of rural
consumption expenditure on consumer durable goods were Tamil Nadu ( 33.3
per cent), Madhya Pradesh (27.2 per cent), Maharashtra (25.2 per cent),
Bihar (25.0 per cent), Haryana (23.9 per cent) and Punjab (f 22.7 per
cent), reveals the ASSOCHAM paper.
Odisha, however, registered nominal growth in consumer durable goods consumption expenditure, adds the paper.
The
all India rural consumption expenditure on consumer durable goods grew
at a compound annual growth rate of 16.5 percent during 2007-08 to
2011-12 whereas urban consumption expenditure on this head increased
15.6 percent per annum.
The states which have registered lower
than all India rural consumption expenditure growth were West Bengal
(15.7 per cent), Uttar Pradesh (14.6 per cent), Assam (13.3 per cent)
and Odisha (1.4 per cent).
"The study further suggests as the
income level of rural people increases, consumption expenditure on
consumer durable also goes up reflecting aspirations for a better life
in the countryside. There also appears to be a positive nexus between
consumer durable goods consumption expenditure and availability of basic
infrastructure in rural areas such as, electricity etc. In fact,
adequate availability of electricity is the key," ASSOCHAM spokesman
said.
If we compare the consumption expenditure on consumer
durable goods during 2004-05 to 2007-08, it indicates different
scenario. The consumer durable goods rural consumption expenditure was
lower than urban consumption expenditure during the same period. The
consumer durable goods rural consumption expenditure growth rate was
11.4 percent and urban consumption expenditure growth rate was 11.8 per
cent during the same period
However, under the impact of economic
slowdown, in the recent past, consumer durable goods index of
industrial production (IIP) has witnessed a sharp deceleration. "But
once the overall industrial output is revived, the rural India would
again lead the growth of consumer goods," the study says.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|