Revival in pvt consumption still some time away
Financial Express Mumbai|June 01, 2023
THE SLUGGISH GROWTH in private final consumption expenditure underlined the weakness in the economic recovery even as higher inflation helped the Centre collect more taxes and focus on capital expenditure.
SURABHI
Revival in pvt consumption still some time away

Economists believe that a broad-based rise in private consumption expenditure as well as private investments is essential for a full-fledged economic recovery.

According to official data released on Wednesday, private final consumption expenditure remained muted at 2.8% in the fourth quarter of the fiscal 2022-23 as against 2.2% in the third quarter of the fiscal. In contrast, gross fixed capital formation grew by a robust 8.9% in the fourth quarter of the fiscal as against 8% in the third quarter as the government kept up the pedal on capex and along with some private investments.

Government final consumption expenditure recorded a low single digit growth of 2.3% in the fourth quarter of the fiscal. Despite global headwinds, exports grew by 11.9% in the quarter.

This story is from the June 01, 2023 edition of Financial Express Mumbai.

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This story is from the June 01, 2023 edition of Financial Express Mumbai.

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