Economic Survey 2021-22 Pdf Download English & Hindi Free Vol 1 & 2 – Finance Minister Nirmala Sitharaman today presented the Economic Survey in the Lok Sabha. The survey estimates a growth of 8-8.5% in gross domestic product (GDP) in 2023. The GDP growth rate for the current financial year 2021-22 (FY22) is estimated at 9.2%. The budget session of Parliament began with President Ram Nath Kovind addressing both the Houses. The report, tabled by Finance Minister Nirmala Sitharaman in Parliament ahead of the annual budget on Tuesday, said that all macro indicators indicated that the economy is well prepared to face challenges, helping agriculture and industrial production growth.
Economic Survey 2021-22 Pdf Download English & Hindi Free Vol 1 & 2
GDP growth expected to be 8-8.5% in FY-2023
Government to increase capital expenditure
Real GDP growth likely to be 9.2% in FY2022
Industrial growth expected to be 11.8% in FY2022
Agriculture and allied sectors least affected by the pandemic
FY22 agriculture sector growth likely at 3.9% in 2021-22
The services sector has been the worst hit by the pandemic
Total consumption is projected to grow by 7% in 2021-22
Improvement in the supply chain will help in development
The year ahead poised for a pickup in private sector investment with the financial system in good position to provide support for economy’s revival.
Projection comparable with World Bank and Asian Development Bank’s latest forecasts of real GDP growth of 8.7 percent and 7.5 percent respectively for 2022-23.
As per IMF’s latest World Economic Outlook projections, India’s real GDP projected to grow at 9 percent in 2021-22 and 2022-23 and at 7.1 percent in 2023-2024, which would make India the fastest growing major economy in the world for all 3years.
Agriculture and allied sectors expected to grow by 3.9 percent; industry by 11.8 percent and services sector by 8.2 percent in 2021-22.
On demand side, consumption estimated to grow by 7.0 percent, Gross Fixed Capital Formation (GFCF) by 15 percent, exports by 16.5 percent and imports by 29.4 percent in 2021-22.
Macroeconomic stability indicators suggest that the Indian Economy is well placed to take on the challenges of 2022-23.
Combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide adequate buffer against possible global liquidity tapering in 2022-23.
Economic impact of “second wave” was much smaller than that during the full lockdown phase in 2020-21, though health impact was more severe.
Government of India’s unique response comprised of safety-nets to cushion the impact on vulnerable sections of society and the business sector, significant increase in capital expenditure to spur growth and supply side reforms for a sustained long-term expansion.
Government’s flexible and multi-layered response is partly based on an “Agile” framework that uses feedback-loops, and the use of eighty High Frequency Indicators (HFIs) in an environment of extreme uncertainty.