Present Day’s Realities of Social Standards in the Russian Federation: Consumer Basket and Living Standard

Abstract

The article shows the importance of the consumer basket figure in assessing the living standard of the Russian population and studies the correlation of figures of the living standard and quality of life: consumer basket, subsistence wage and the minimum remuneration. The authors analyzed the content of consumer basket in Russia and European countries and came to the conclusion that the Russian consumer basket is conservative for a long period of time and does not meet requirements of today's life. The structure of the consumer basket value was analyzed by key social and demographic groups of the population. The authors paid special attention to the correlation of the subsistence wage and the minimum remuneration, which is necessary to pursue effective social policy of state. By investigating data of key minimum social guarantees fixed by legislation of the Russian Federation certain gaps were found in scholarships of university students, unemployment benefits, childcare allowances. The importance of consumer basket was studies for raising the living standard of the Russian population and development of national economy. The authors show directions for strengthening social status of this figure as a basis for developing the system of estimating the adequate living standard in the Russian Federation.

Keywords

• subsistence wage
• minimum wage
• social standards
• standard and quality of life