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Slowdown In Middle-Class Consumption Is Likely To Prolong — Here's Why
Indian households are seeing a rise in debt for consumption, instead of forming capital goods and services, Nandita Rajhansa and Saurabh Mukherjea said in the Marcellus Blog.
06 Mar 2025, 12:18 PM IST 
Private consumption in India has slowed to 5.3% in 2022–23, compared to 7.9% 2019–20, according to National Statistical Office. (Photo source: Towfiqu barbhuiya)
Slowdown in goods and services that middle-class people use for asset creation, and to upgrade their standard of living will likely be prolonged, Nandita Rajhansa and Saurabh Mukherjea deduced after analysing India's debt and savings trend. The onus is on rising debt among Indian households for consumption, instead of forming capital goods and services, the writers said in their latest article on Marcellus Blog. Private consumption ...
