Current Affairs · Economic Surveys and Indices

Consider the following points regarding findings from the Household Consumption Expenditure Survey (HCES) 2023-24: I. The decline in the share of expenditure on food and beverages in both rural and urban areas is consistent with Engel's Law. II. The increase in spending on protein-rich foods such as eggs, meat, and fruits reflects dietary diversification associated with rising incomes. III. Rising urban housing rent as a share of MPCE is primarily due to population ageing in rural areas. IV. The increase in the miscellaneous category, including health, education, and conveyance, indicates a broadening of consumption beyond basic needs. How many of the above points are correct?