Economic Survey 2022: Quick Highlights

The Economic Survey was tabled in parliament today by Finance Minister, Nirmala Sitharaman. Here are quick highlights from the Economic Survey 2022.

• GDP growth projected at 8 to 8.5% of GDP for 2022-23. That was a little less than what most economists forecasted.
• India has the fiscal space to do more to support the economy. This should be good news given that growth has to be pushed even further
• The projection is based on the assumption that there will be no further debilitating pandemic related economic disruption, monsoon will be normal, withdrawal of global liquidity by major central banks will be orderly," according to the survey.
• Agriculture least hit by pandemic, sector to grow by 3.9% in 2021-22 after growing 3.6% in the previous year.
• In April-November 2021, IPOs of 75 companies have listed, garnering Rs 89,066 crore, as compared to 29 companies raising Rs 14,733 crore during April-November 2020.

  
• Crop diversification towards oilseeds, pulses and horticulture needs to be given priority
• Climate finance will remain critical to successful climate action for India to achieve its net zero carbon Cemission target by 2070
• Survey pegs services sector to see 8.2% growth in 2021-22.
• Govt finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators during pandemic year FY21.