NSO's little less great expectations

On the demand side, consumption growth is flat-lining at 7.9% in 2021-22 and 7.6% in 2022-23 as government spend climbs from 2.6% to 3.1% as percentage of public spending. Investment will decelerate much faster, growing 11.5% in 2022-23 against 15.8% in the previous year. Export growth is expected to nearly halve from 24.3% in 2021-22 to 12.4% in 2022-23, reflecting the surge in demand for goods during the pandemic and a subsequent diversion to services followed by a global slowdown.