Number Theory: India's consumption spending numbers explained in 4 charts

The slowest growth in average consumption spending was seen between the 1999-2000 and 2004-05 Consumption Expenditure Survey rounds.

The National Sample Survey Office (NSSO) has published the summary results of Household Consumption Expenditure Survey (HCES) for 2022-23 on February 24. The publication of HCES results marks the end of an eleven year drought on official consumption data in India. Because the NSSO has not published the full report or unit-level data of the HCES, a detailed statistical analysis of the results is not possible. With this caveat in place, here are four key takeaways from the HCES data.

Representational image.(Unsplash)