𝗚𝗦𝗧 (𝗚𝗼𝗼𝗱𝘀 𝗮𝗻𝗱 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗧𝗮𝘅) 𝗿𝗲𝘃𝗲𝗻𝘂𝗲𝘀 𝗿𝗲𝘃𝗲𝗮𝗹 𝗮 𝗱𝗶𝘀𝘀𝗼𝗻𝗮𝗻𝗰𝗲 𝗶𝗻 𝗰𝗼𝗻𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻 𝗴𝗿𝗼𝘄𝘁𝗵 𝗮𝗰𝗿𝗼𝘀𝘀 𝗦𝘁𝗮𝘁𝗲𝘀

Amid worries about weak consumer spending trends, GST revenues for the first nine months of 2023-24 reveal a dissonance in consumption growth across States, with Gujarat, West Bengal and Andhra Pradesh among a dozen-odd States that are seeing weaker growth.

The National Statistical Office estimated private final consumption expenditure (PFCE) would grow just 4.4% this year, the slowest since 2002-03, barring the pandemic-affected year of 2020-21.

After recovering to 6% in the April to June 2023 quarter from below 3% in the second half of 2022-23, the PFCE growth had slipped to 3.1% in the July-September quarter.