Economic Survey 2022 Highlights: Geopolitical risks bubbling up, says PEA
- IBEF
- February 1, 2022
Finance Minister Ms. Nirmala Sitharaman presented the Economic Survey 2021-22 to Parliament on January 31st as a prelude to Budget 2022. The Economic Survey 2022 highlights the country's economic developments and aids in a better understanding of resource mobilisation and allocation in the Union Budget 2022. The Survey, which was written by India's main economic advisor, examines developments in agricultural and industrial production, infrastructure, employment, money supply, pricing, imports, exports, foreign exchange reserves, and other significant economic issues that affect the Budget. It is presented to Parliament ahead of the following year's budget.
Highlights of the Economic Survey for 2022:
- India's GDP growth is expected to be 9.2% in FY22.
- GDP growth for FY23 is expected to range from 8- 8.5%.
- In FY23, the economy is expected to increase.
- In 2021-22, the agriculture sector is expected to develop at a rate of 3.9%.
- In 2021-22, the industrial sector is expected to rise by 11.8%.
- In 2021-22, the services industry is expected to rise by 8.2%.
- India appears to be well positioned to confront challenges in 2022-23, according to macroeconomic data.
- According to the survey, India's economic reaction to the pandemic's devastation has been supply-side reforms rather than demand control.
- In FY23, growth will be aided by extensive vaccination coverage.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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