Economic Survey 2022: GDP Pegged At 9.2%, FY23 At 8-8.5%, Agri Sector To Grow At 3.9% | Key Highlights

Industrial sector to grow 11.8 per cent in 2021-22, while services sector to grow 8.2 per cent in 2021-22, survey says

Pradhan Mantri Garib Kalyan Rojgar Abhiyaan generated 50.8 crore man-days employment as of July, 21 with an expenditure of Rs 39,293 crore, according to economic survey. Image: Getty

New Delhi: President Ram Nath Kovind on Monday in his joint address of Parliament ahead of the Budget session noted major achievements of the government in the health sector, while lauding the pharma sector’s contribution to the pandemic globally.

He said that India’s capability in fighting against the pandemic was evident in the vaccination programme. “In less than a year, we made a record of administering over 150 crore doses of vaccine. Today, we’re one of the leading nations of the world in terms of administering the maximum number of doses,” the President said in his keynote address.

After the President’s speech, Finance Minister Nirmala Sitharaman tabled The Economic Survey on Parliament. The survey document was presented ahead of the presentation of the Union Budget on February 1 (Tuesday).

The Economic Survey At A Glance:

India’s FY22 GDP growth seen at 9.2 per cent

GDP growth for FY23 has been projected at 8 per cent to 8.5 per cent

Economic recovery back on track

India sees 8-8.5 per cent GDP growth in FY23

Agriculture sector to grow 3.9 per cent in 2021-22

Industrial sector to grow 11.8 per cent in 2021-22

Services sector to grow 8.2 per cent in 2021-22

Pradhan Mantri Garib Kalyan Rojgar Abhiyaan generated 50.8 crore man-days employment as of July, 21 with an expenditure of Rs 39,293 crore

Mahatma Gandhi National Rural Employment Guarantee Scheme 2021-22 as of November 2021 provided employment of 8.85 crores, with funds of Rs 68,233 crore were released

Macro-economic indicators suggest India well placed to face challenges in the year 2022-23

Survey says India’s economic response to disruptions caused by pandemic has been supply-side reforms rather than demand management

Robust growth in export and availability of fiscal space to ramp up capital spending

Growth in FY23 to be supported by widespread vaccine coverage