Consumption, infra investments show recovery: First advance estimates

But slowdown visible in H2, shows first Advance Estimates of GDP for FY23

Consumption and infrastructure investments are expected to show a strong recovery as the economy bounces back from two years of the Covid-19 pandemic, the first Advance Estimates of gross domestic product (GDP) for the current fiscal year (FY23) showed on Friday.

Analysts, however, warned that broad-based recovery is still some time away.

In nominal terms, private final consumption expenditure (PFCE), which is a proxy for household consumption, is expected to rise to Rs 164 trillion in FY23 from Rs 140.9 trillion in FY22 and Rs 120.3 trillion in FY21, the data released by the National Statistical Office showed.

As a