Economic Survey 2022 Highlights: Revival In Economic Activities To Pre-Pandemic Levels, Says Principal Economic Advisor
Economic Survey 2022 LIVE: Hello and welcome to the ABP Live blog to get the latest on Economic Survey to be presented on the first day of Budget Session 2022.
Background
Economic Survey 2022 LIVE Updates: Hello and welcome to the ABP Live blog to get the latest on Economic Survey to be presented on the first day of Budget Session 2022.
India's Economic Survey 2021-22 will be tabled in Parliament on Monday. The pre-Budget survey shows the state of the economy of the country.
Union Finance Minister (FM) Nirmala Sitharaman will present the economic survey in the Lok Sabha after the President’s Address to both Houses of Parliament. The FM will present the Union Budget for 2022-23 on Tuesday.
One of the most-watched numbers in the Economic Survey is the projection of the GDP for the next fiscal year. The survey is authored by a team led by the Chief Economic Advisor (CEA).
The government has appointed economist V Anantha Nageswaran as the new CEA. Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted the office of CEA in December 2021 after completing his three-year term.
The Economic Survey for 2021-22 is expected to give a growth projection of around 9 per cent for the next fiscal year as India is showing signs of recovery from Covid-19.
India’s statistics ministry has estimated the economic growth at 9.2 per cent for the current fiscal year. The survey often misses on GDP forecasts, sometimes by a significant margin.
Economic activities were severely impacted as India imposed a strict lockdown in the latter part of March 2020 to check the spread of the virus.
India is poised to grow as the fastest economy in the world during the current financial year with a growth projection of around 9 per cent despite the pandemic.
According to the National Statistical Office (NSO), the economy is expected to record a growth of 9.2 per cent during the current fiscal year, which is a tad lower than the 9.5 per cent figure projected by the RBI.
Economic Survey 2022 LIVE: Growth In 2022-23 Will Be Driven By Widespread Vaccinations, Gains From Supply-Side Reforms
Principal Economic Advisor Sanjeev Sanyal, while presenting the Economic Survey, highlighted that the growth in 2022-23 will be driven by widespread vaccinations, gains from supply-side reforms, easing of regulation, robust export growth & availability of fiscal space to ramp up capital spending.
Economic Survey 2022 LIVE: Inflation During 2021 Reflected Disruptions Caused By Lockdown
Principal Economic Advisor Sanjeev Sanyal said inflation during the year 2021 reflected the disruptions caused by the lockdown & supply chain disruptions.
The inflation during the year 2021 reflected the disruptions caused by the lockdown & supply chain disruptions. Since things opened up this year, Consumer Price Index (CPI) came back into the tolerance band & remain so at 5.6%: Principal Economic Advisor Sanjeev Sanyal pic.twitter.com/pN2aBTuOy7
— ANI (@ANI) January 31, 2022
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