what is household swctor
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A slump in household economy, due to lower household savings and capital expenditure, doesn’t augur well for a speedy revival of overall investment in the Indian economy. Graphic: Mint
A slump in household economy, due to lower household savings and capital expenditure, doesn’t augur well for a speedy revival of overall investment in the Indian economy. Graphic: Mint
What ails India’s household economy?
4 min read . 14 Nov 2017
Manas Chakravarty
Households are consuming more out of their disposable income and saving less, a trend which, in turn, has impacted household capex
The household sector is the largest segment of the Indian economy. In 2015-16, it accounted for 43.6% of gross value added (GVA) in the economy, while the private non-financial corporate sector, the second largest segment, accounted for 34.9%. The health of the household sector, therefore, is the key to the health of the economy. Note that the household sector in the national accounts is a catch-all term that includes, apart from individuals, all non-government, non-corporate enterprises like farm and non-farm businesses, unincorporated establishments such as sole proprietorships and partnerships and non-profit institutions like charitable trusts, religious endowments and educational institutions. To a large extent, therefore, it will reflect conditions in the informal sector, in the millions of small farms and shops and micro businesses across the country. In recent years, the share of the household sector in GVA has been falling—from 45.8% of GVA in 2013-14 to 43.6% in 2015-16.
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