Economic Survey 2022: India’s total consumption likely to grow 7% in FY22

India’s total consumption is estimated to have grown by 7 per cent in FY22 with government consumption being the biggest contributor, according to the Economic Survey tabled in Parliament.

The Survey said that the government consumption was estimated to grow by a strong 7.6 per cent, thereby surpassing the pre-pandemic levels.

Besides, private consumption is also estimated to have improved significantly to recover 97 per cent of corresponding pre-pandemic output level.

The survey said that the recent dip in vehicle registrations reflects persistent supply-side constraints owing to the shortage of semiconductor chips rather than lack of consumption demand.

(With inputs from IANS)