In a significant milestone, recent official figures show that automobile ownership among India’s poorest households has increased significantly over the last decade.
According to data gathered from the Ministry of Statistics and Programme Implementation and shared on X by Prime Minister Narendra Modi’s economic advisory council member Shamika Ravi on 23rd August, vehicle ownership among the poorest households has increased from 6% to 40% in the last decade under the Modi government. This translates to a whopping increase of 566.67% in the percentage of the poorest in the country owning a vehicle.
The last 10 years have been economically remarkable for the poorest 20% of Indian population. Here’s one important marker: the proportion of poorest households that owned a vehicle (motorcycle/scooter,car/jeep)-
— Prof. Shamika Ravi (@ShamikaRavi) August 22, 2024
2011-12: 6%
2022-23: 40%
State-wise growth is even more fascinating! pic.twitter.com/rsX7FEUBST
“The last 10 years have been economically remarkable for the poorest 20% of Indian population. Here’s one important marker: the proportion of poorest households that owned a vehicle (motorcycle/scooter,car/jeep)- 2011-12: 6% 2022-23: 40% State-wise growth is even more fascinating!,” Ravi posted.
While in 2011-12, only 6% of India’s poorest households owned a vehicle, which could be a motorbike, scooter, car, or jeep, by 2022-23, the figure had surged to 40%.
According to state-level data, Punjab saw the biggest rise, with 62.5% of the poorest households owning a vehicle in rural regions and 65.7% in urban areas.
West Bengal was at the bottom of the list, with only 9.6% of the poorest rural households and 15.2% in urban areas possessing a vehicle.
Notably, Bihar is the only state where rural households own more vehicles than urban ones. In Bihar, 19.1% of the poorest rural households own a vehicle, compared to 16.8% of the poorest urban households.
The data shared by Shamika Ravi demonstrates a substantial boost in the financial status particularly in terms of purchasing power for the poorest households. This has enabled these households to purchase motor vehicles. The increase in vehicle ownership among the lowest parts of the population signifies economic advancement or shifts in economic policies benefitting these households. Alongside this, improved access to credit plus shifts in consumer behaviour also added to the substantial growth in vehicle ownership among the poorest households.
