Consumption of cereals and pulses has dropped over 5% among Indian households, with food expenditure declining significantly. Rural households decreased food spending to 47.04% in 2023-24, while urban ...
The SBI research revealed a sharp decline in rural poverty to 4.86% in FY24 (from 7.2% in FY23 and 25.7% in FY12) and urban poverty to 4.09% in FY24 (from 4.6% in FY23 and 13.7% in FY12).
Indian households have significantly altered their spending patterns over the past 12 years, shifting focus from food to non-food items, according to an analysis by the State Bank of India (SBI).