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Number Theory: Tracking household accounts in last 5 years

ByAmit Basole, Anand Shrivastava
May 14, 2024 02:10 PM IST

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Going by the headline GDP numbers, the Indian economy has fully recovered from the shock of the pandemic, but is the average Indian household better off today than it was five years ago? India does not have official high-frequency income and consumption data at the household level. But inflation-adjusted quarterly data from the Consumer Pyramids Household Survey (CPHS), conducted by the Centre for Monitoring the Indian Economy (CMIE) can be used to answer this question. While the CPHS data has been criticised for sampling bias, focusing on trends rather than absolute levels of income, consumption and savings can partly address these concerns. Here is what the data shows.

Representational.(AFP)
Representational.(AFP)
Tracking household accounts in last 5 years
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