New Delhi, Oct. 14 -- India's consumer spending is likely to see more moderate growth in the second half of the current fiscal year despite resilient demand so far, as the impact of earlier tax cuts fades from comparisons and rising food and fuel costs threaten household budgets, ICRA Chief Economist Aditi Nayar said.

Speaking to ANI, Nayar said income tax rationalisation and GST rationalisation had supported consumption over the past year and a half. However, the strong growth following GST changes is likely to make comparisons tougher in the coming months.

"We do expect that there is going to be a moderation in volume growth across a lot of sectors," she said.

Nayar said consumer growth had remained resilient, with high-frequency ind...