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Many poverties
A contentious statement on Indian poverty, put out some years ago by Arjun Sengupta, said that 78 per cent of Indians lived on less than Rs 20 a day. That figure always looked problematic, but has become a favourite statistical weapon in the hands of the Left. So it is just as well that the Suresh Tendulkar report on poverty has effectively nailed that number. The Tendulkar report says that 25.7 per cent of urban residents are below the new definition of the poverty line, because they spend less than Rs 578.80 per month. That is Rs 19/day, close to the Sengupta benchmark. Given the urban-rural mix of 28:72, if the Sengupta claim of 78 per cent for the country as a whole (urban and rural) is correct, then 92 per cent of all rural residents would have to be consuming less than Rs 20/day.

Desert storm may last long
The Dubai crisis could have major ramifications similar to the global credit turmoil last year.

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Sensex gains 186pts on F&O expiry
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Paradigm shift in rural buying pattern: CII study

The consumption trend in rural areas has shown a paradigm shift from price-driven to quality-driven products, points out a recent study on rural marketing by the Confederation of Indian Industries (CII). - GCPL: Well done - Court restrains HUL from running Vaseline ad - Court asks HUL not to use "Boro" word in Vaseline ad - Colgate: A good performance - Paradigm shift in rural buying behaviour as quality takes centrestage: CII study - Indulge in sector funds, cautiously “The knowledge that branded goods offer better quality is visible. Established “upmarket” products of brands like P&G, HUL, Nirma, ITC have found loyal customer base as opposed to the situation about 20 years back, when they were highly sensitive to price and perceived value,” the study said. Rural consumers spend around 13 per cent of their income, the second after food(35 per cent) on Fast moving consumer goods (FMCG). The FMCG industry in India was worth $16.03 billion in August 2008m and the rural market accounted for 57 per cent of the share. The sector showed the rural markets posted about 20 per cent growth in rural India, against 20 per cent in the urban areas, according to the CII study.


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