Highlights of the Economic Survey 2021-22

Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2021-22 along with Statistical Appendix in the Lok Sabha on the first day of the Budget session of Parliament.

Later, the Lok Sabha was adjourned till tomorrow. The Economic Survey will now be tabled in the Upper House.

The Budget Session of the parliament commenced on January 31 with President Ram Nath Kovind's address.

The first part of the Budget session of Parliament will be held from January 31 to February 11 and the second part of the Budget session will take place from March 14 to April 8.

Following are the highlights of the Economic Survey 2021-22:

Economy well placed to take on challenges in 2022-23: Economic Survey

Indian economy in good position to witness GDP growth of 8-8.5% in 2022-23.

Economic Survey pegs GDP growth in 2021-22 at 9.2 pc; economic activity has recovered to pre-pandemic level.

Govt finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators during pandemic year FY21.

Economic Survey sees GDP growth of 8-8.5% based on oil price projection of $70-75 per barrel range as against current price of $90.

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Private sector investment to pick with financial system in good position to provide support to revival of economy.

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

Growth in FY23 to be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations.

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

Photograph: ANI Photo