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Could consumption really have fallen?

The leaked NSS consumption numbers have provoked a debate. While arguments by various sides are not really convincing there are some broad lessons

Josh Felman Justin Sandefur Arvind Subramanian & Julian Duggan 

Josh Felman, Justin Sandefur,  Arvind Subramanian & Julian Duggan

The National Sample Survey (NSS) consumption numbers that were recently leaked have provoked a storm of debate. Some argue that they reveal the truth about the economy, while others claim the numbers are seriously misleading.

Where do we stand? In our view, both arguments are extreme. Commentators on one side have claimed that the new numbers — showing that real per capita consumption declined between 2011-12 and 2017-18 — prove that the economy did not grow at 7 per cent, as the GDP numbers for the period proclaim. And the fact that the survey was taken in 2017-18, the year ...

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First Published: Tue, December 10 2019. 21:48 IST
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