Household consumption up; below pre-Covid level: FY22 GDP estimates

The NSO also released the GDP data for October-December (Q3) of FY22

According to the Second Advance 2021-22 (FY22) Gross Domestic Product (GDP) Estimates released by the National Statistical Office (NSO) on Monday, household consumption is expected to contribute slightly more to GDP in nominal terms, compared with the First Advance Estimates. However, it will still be below the pre-pandemic levels of 2019-20 (FY20).

Private final consumption expenditure (PFCE) for the current fiscal year is projected to be Rs 140 trillion, or 59.3 percent of GDP. This is a slight improvement over 57.5 per cent projected in the First Advance Estimates. In absolute terms, the FY22 PFCE projections in nominal terms are higher