Analysts and government officials said that this points to a strong rebound in private investment, after two years of the Covid-19 pandemic, on top of the ongoing public sector capex.
Household consumption, however, was weak for the entire year and also Q4. Analysts argued this was due to uneven growth and a Kshaped recovery, with rural consumption being not as strong as urban demand.
On a nominal basis, gross fixed capital formation (GFCF), a proxy for infrastructure investment, contributed 29.2 per cent to FY23 GDP, against 28.9 per cent in FY22 and 27.3 per cent in FY21. On real GDP terms, GFCF was 34 per cent as a share of GDP in FY23, compared to 32.7 per cent and 31.1 per cent in the previous two years.
This story is from the June 01, 2023 edition of Business Standard.
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This story is from the June 01, 2023 edition of Business Standard.
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