ABSTRACT
Consumption is an important component of aggregate demand in an economy. A
country’s consumption pattern and its outcomes unveil a radiant picture of its living standards,
level of poverty, human development and the essence of its economic growth and well-being. A
convoluted set of socio-economic, cultural, psychological and environmental factors determine
the consumption pattern of any common man in a society. In a similar way human wants and
consumption pattern undergo major transformation interrelated with the growth and
development of societies. Consumption is an important activity performed by any common man
and is basically of two types i.e. lifeline and lifestyle. Consumption inevitably is based on income
of a person and his assets. Economic reforms introduced by Government of India over the
years have influenced the per capita income to a great extent and also has influenced the
consumption pattern of masses. The paper highlights the varying consumption pattern in India
in this dynamic economic scenario.
Keywords: Consumption, Living standards, Economic Reforms, Masses
REFERENCES
Economics Survey, Ministry of finance, Government of India, New Delhi Publication. 1970-71 to 2019-20
[1] Central Statistic Organisation, Ministry of Statistic and programme implementation, 12 (2018)
[2] Level and Pattern of Consumer Expenditure 2009-10, National Sample Survey Report No.538.
[3] Papola, T.S., "Structural changes in the Indian economy", Emerging Patterns and Implications, ISID, New Delhi, pp.1-10, 2005.
[4] Solomon, M., Bamossy, G., Askegaard, S., & Hogg, M. K. (2006). Consumer Behaviour: A European Perspective. Harlow: Prentice Hall.
[5] Private Final Consumption Expenditure by Object in India, National Accounts Statistics Reports, CSO.1. ternational Conference on Trade, Tourism and Management, 21-22.