Poverty gap shrinks between Rural and Urban India in FY24, driven by higher consumption: SBI report
State Bank of India (SBI).
ET Year-end Special Reads
Stocks to buy in 2025: 66 ideas from top brokerages for your new year portfolio
What does 2025 hold for India's IT services sector?
2025 may be the year of EVs in India, dominated by SUV launches
The gap in monthly per capita consumption expenditure (MPCE) has decreased significantly, with the difference between rural and urban MPCE now at 69.7%, a sharp decline from 88.2% in 2009-10.
This improvement, according to the SBI report, is largely attributed to government-led initiatives such as direct benefit transfers (DBTs), enhanced rural infrastructure, efforts to increase farmers' income, and overall advancements in rural livelihoods. The government’s push to empower rural communities through these measures has been crucial in closing the consumption divide.
The report further elaborates on vertical consumption inequality, which refers to disparities within rural and urban regions across various income classes.
In rural areas, the Gini coefficient, which measures income inequality, has decreased from 0.365 to 0.306, signaling a more equitable distribution of income. Urban areas have also seen a reduction in inequality, with the Gini coefficient dropping from 0.457 to 0.365, indicating a more balanced consumption pattern.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By — Metla Sudha Sekhar,
