India - Households and NPISHs final consumption expenditure (% of GDP)

Households and NPISHs final consumption expenditure (% of GDP) in India was 58.59 as of 2020. Its highest value over the past 60 years was 87.38 in 1960, while its lowest value was 54.72 in 2010.

Definition: Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 87.38
1961 86.25
1962 84.52
1963 81.70
1964 82.46
1965 82.55
1966 84.92
1967 86.41
1968 81.65
1969 80.22
1970 79.68
1971 80.28
1972 80.27
1973 79.51
1974 81.60
1975 77.73
1976 75.01
1977 76.24
1978 76.55
1979 75.80
1980 77.85
1981 76.14
1982 75.15
1983 75.54
1984 74.60
1985 72.98
1986 73.16
1987 71.45
1988 70.12
1989 68.17
1990 67.08
1991 67.02
1992 65.74
1993 65.45
1994 64.84
1995 63.70
1996 64.56
1997 63.91
1998 63.81
1999 64.01
2000 63.74
2001 64.15
2002 63.03
2003 61.50
2004 58.35
2005 57.38
2006 56.11
2007 55.76
2008 56.68
2009 55.96
2010 54.72
2011 56.21
2012 56.46
2013 57.65
2014 58.13
2015 59.01
2016 59.30
2017 58.73
2018 59.42
2019 60.48
2020 58.59

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Household final consumption expenditure is often estimated as a residual, by subtracting all other known expenditures from GDP. The resulting aggregate may incorporate fairly large discrepancies. When household consumption is calculated separately, many of the estimates are based on household surveys, which tend to be one-year studies with limited coverage. Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures. Complicating the issue, in many developing countries the distinction between cash outlays for personal business and those for household use may be blurred. Informal economic activities pose a particular measurement problem, especially in developing countries, where much economic activity is unrecorded. A complete picture of the economy requires estimating household outputs produced for home use, sales in informal markets, barter exchanges, and illicit or deliberately unreported activities. The consistency and completeness of such estimates depend on the skill and methods of the compiling statisticians.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts