Here are key highlights of Economic Survey 2021-22

Economic activity has recovered to pre-pandemic level, economy well placed to take on challenges in 2022-23, the survey stated
Last Updated 29 January 2023, 11:23 IST

Following are the highlights of the Finance Ministry's Economic Survey 2021-22.

* Pegs economic growth for 2022-23 at 8-8.5 pc; for 2021-22 GDP expansion at 9.2 pc

* Economic activity has recovered to pre-pandemic level, economy well placed to take on challenges in 2022-23

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

* Growth projections based on oil price projection of USD 70-75 per barrel next fiscal, against current price of $90

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

* India’s agile policy response differed from the waterfall strategy of introducing front-loaded stimulus packages, adopted by most other countries in 2020.

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

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

* Air India privatisation key in boosting government's privatisation drive; calls for private participation in all sector

* Government finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators in the previous year

* India transformed from being among 'Fragile Five' nations to 4th largest forex reserve, giving policy room for manoeuvring

* High WPI inflation is partly due to base effects that will even out, need to be wary of imported inflation, especially from elevated global energy prices

* Disruptions in the global container market not yet over; will continue to impact the global sea trade

* 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 emission target by 2070.

(Published 31 January 2022, 10:11 IST)

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