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LATEST NEWS UPDATES | Consumption-driven GDP growth unhealthy for Indian economy -Manas Chakravarty

Consumption-driven GDP growth unhealthy for Indian economy -Manas Chakravarty

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published Published on Sep 3, 2018   modified Modified on Sep 3, 2018
-Livemint.com

A consumption-driven growth not only fuels inflation, but also can arguably lead to a slackening of future growth

Economic growth of 8.2% for the June quarter may have beaten all estimates, but the big question is: what kind of growth is it? Is the economy firing on all the engines of domestic consumption, investment demand and external demand?

Let’s look at the numbers. The anecdotal evidence of a spurt in consumption growth is certainly borne out by the GDP data. Private final consumption expenditure (PFCE) growth rose to 8.6% in the June quarter from 6.7% in the preceding March quarter. What’s more, the growth rate has increased despite an unfavourable base—PFCE growth in the June 2017 quarter had jumped to 6.9%, compared to growth of 4.2% in the March 2017 quarter.

Sliced another way, the data shows that private consumption was 54.9% of GDP at constant prices in the June quarter, compared to 54.6% in the March quarter. Clearly, consumption growth is very strong.

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Livemint.com, 3 September, 2018, https://www.livemint.com/Money/Z0UJNUHbJc1iVbVEiXXm8J/Consumptiondriven-GDP-growth-unhealthy-for-Indian-economy.html


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