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Abstract
The word ‘food’ refers to the chemical substances taken into the body in order to keep the body in a healthy and active condition. The body requires food for growth, repair and replacement of its worn-out tissues. Hence, food has to provide the required raw material, energy and other regulating substances, like vitamins and minerals, for the smooth functioning of the body, besides meeting the calorific requirements like carbohydrates, proteins, fats, etc., India is the world’s second largest producer of food next to China and has the potential of being biggest industry with food and agricultural sector contributing 26 percent to Indian GDP. It has the capacity of producing over 700 million tons of food products every year; it is likely to be doubled in next ten years. Food accounts for the largest share of consumer spending. Food and food products account for about 30 per cent of consumer spending. The average monthly per-capital consumer expenditure (MPCE) was611 for rural India, which comprised of 405 for food and 306 for non-food commodities. For urban population, it is 1060, which comprised of 441 for food and 619 for non-food items.