The Private consumption expenditure has reached 75 percent of Gross Domestic Product (GDP) due to sustained growth in remittances during current financial year ending June 30, 2012.
However, public consumption expenditures are 13 percent of GDP in the fiscal year 2012-
According to the Economic Survey 2011-12, total consumption has reached 88.4 percent of GDP in fiscal year 2011-12 as compared to 83 percent last fiscal year.
Furthermore, increase in rural income due to higher production of crops and sharp increase in commodity prices also supported the consumption demand.
Real private consumption grew at 11.6 percent in the current financial year as compared to 3.7 percent growth last year and real government Consumption grew at 8.2 percent as compared to 5.2 percent last year.
Per capita real income grew at 2.3 percent in 2011-12 as compared to 1.3 percent growth last year. In dollar terms, it increased from $ 1258 in 2010-11 to $ 1372 in 2011-12.
Private consumption expenditure reaches 75 % in FY 2011-12
