Abstract.Day3.Ladusingh

Changing Age Pattern of Income, Consumption and Lifecycle Deficit in India

Laishram Ladusingh, Sanjay Kumar, and Shivendra Singh

Income of individuals relative to the average income of prime working age groups 30-49 years change from 80 percents to 110 percent during 1993-94 to 2011-12. There is a right shift in the age pattern of labor income in the past 60 years of age indicating an increase in earnings in older ages of individuals. Equally the age pattern of consumption has considerable upward shift across the age groups during the period 1993-94 to 2011-12. for children under the age of 5 years increased from 20 to 40 percents and that for elderly over 60 years increased from 60 to 80 of the average income of 30-49 years. Increase of 50 to 80 percents of the average income 30-49 years in the LCD of elderly over 60 years of age is noticed in the aforesaid period while the increase is from 20 to 50 percents for children under 15 years.