ECONOMIC SURVEY 2021-22 – Key Highlights
The Economic Survey 2021-22 was tabled in Parliament on Monday by Finance Minister Nirmala Sitharaman soon after the President's address to both Houses of Parliament.
The survey, presented a day before the Union Budget, underlines the state of the economy and outlines suggestions for policy actions.
SPECIAL FEATURES OF ECONOMIC SURVEY:
*CENTRAL THEME OF ECONOMIC SURVEY 2021-22 IS THE “AGILE APPROACH”.
*PREFACE TAKES A BIRD’S EYE VIEW OF EVOLUTION OF ECONOMIC SURVEYS SINCE INDEPENDENCE.
*NEW CHAPTER DEMONSTRATES USE OF SATELLITE & GEO-SPATIAL IMAGES TO GAUGE VARIOUS ECONOMIC PHENOMENON.
*ECONOMIC SURVEY REVERTS TO A SINGLE VOLUME PLUS A SEPARATE VOLUME FOR STATISTICAL APPENDIX.
KEY HIGHLIGHTS OF THE ECONOMIC SURVEY 2021-22
- 9.2 PERCENT GROWTH EXPECTED IN REAL TERMS IN 2021-22
- GDP PROJECTED TO GROW 8.0-8.5 PERCENT IN 2022-23
- PANDEMIC: GOVERNMENT’s SUPPLY SIDE REFORMS PREPARING ECONOMY FOR SUSTAINED LONGTERM EXPANSION
- CAPEX GROWS BY 13.5 PERCENT (YoY) DURING APRIL-NOVEMBER, 2021
- FOREIGN EXCHANGE RESERVES TOUCH US$ 633.6 BILLION ON 31st DECEMBER, 2021
- MACROECONOMIC STABILITY INDICATORS SUGGEST ECONOMY WELL PLACED TO TAKE ON CHALLENGES OF 2022-23
MASSIVE GROWTH IN REVENUE RECEIPTS - SOCIAL SECTOR: EXPENDITURE ON SOCIAL SERVICES AS PROPORTION OF GDP INCREASES TO 8.6 PERCENT IN 2021-22 (BE) AS COMPARED TO 6.2 PERCENT IN 2014-15
- WITH REVIVAL OF ECONOMY, EMPLOYMENT INDICATORS BOUNCED BACK TO PRE-PANDEMIC LEVELS DURING LAST QUARTER OF 2020-21
- MERCHANDISE EXPORTS AND IMPORTS REBOUND STRONGLY AND SURPASS PRECOVID LEVELS
- BANK CREDIT ACCELERATES TO 9.2 PERCENT AS ON 31st DECEMBER, 2021
- Rs 89,066 CRORE RAISED VIA 75 IPOs; SIGNIFICANTLY HIGHER THAN IN ANY YEAR IN LAST DECADE
- CPI-C INFLATION MODERATES TO 5.2 PERCENT IN 2021-22 (APRIL-DECEMBER)
- FOOD INFLATION AVERAGES AT A LOW OF 2.9 PERCENT IN 2021-22 (APRIL-DECEMBER)
- EFFECTIVE SUPPLY SIDE MANAGEMENT KEEPS PRICES OF MOST ESSENTIAL COMMODITIES UNDER CONTROL
- AGRICULTURE: GVA REGISTERS BUOYANT GROWTH OF 3.9% IN 2021-22
- RAILWAYS: CAPITAL EXPENDITURE SEES SUBSTANTIAL INCREASE TO Rs. 155,181 CRORE IN 2020-21; BUDGETED TO FURTHER INCREASE TO Rs. 215,058 CRORE IN 2021-22, A FIVE TIMES INCREASE COMPARED TO 2014 LEVEL
- PER DAY ROAD CONSTRUCTION INCREASES TO 36.5 KMS IN 2020-21 – RISE OF 30.4 PERCENT COMPARED TO THE PREVIOUS YEAR
- SDGs: OVERALL SCRORE ON NITI AAYOG DASHBOARD IMPROVES TO 66 IN 2020-21
SUMMARY OF THE ECONOMIC SURVEY 2021-22
- AS PER WORLD BANK, ADB AND IMF PROJECTIONS, INDIA TO REMAIN THE FASTEST GROWING MAJOR ECONOMY IN THE WORLD DURING 2021-24
- INDIAN ECONOMY TO GROW BY 9.2% IN REAL TERMS IN 2021-22
- AGRICULTURE TO GROW BY 3.9 % IN 2021-22 IN COMPARISON TO 3.6% IN THE PREVIOUS YEAR
- INDUSTRIAL SECTOR TO WITNESS SHARP REBOUND FROM A CONTRACTION OF 7% IN 2020-21 TO EXPANSION OF 11.8% IN 2021-22
- SERVICES TO CLOCK 8.2% GROWTH IN 2021-22 AFTER A CONTRACTION OF 8.4% LAST YEAR
- FOREIGN EXCHANGE RESERVES STOOD AT US$ 634 BILLION AS ON 31ST DECEMBER 2021 EQUIVALENT TO OVER 13 - MONTHS OF IMPORTS AND HIGHER THAN COUNTRY’S EXTERNAL DEBT
- INVESTMENT IS EXPECTED TO SEE A STRONG GROWTH OF 15% IN 2021-22
- CONSUMER PRICE INDEX (CPI) COMBINED INFLATION OF 5.6% IN DECEMBER 2021 IS WELL WITHIN TARGETED TOLERANCE BAND
- FISCAL DEFICIT FOR APRIL-NOVEMBER 2021 CONTAINED AT 46.2% OF BUDGET ESTIMATES
- CAPITAL MARKET BOOMS DESPITE PANDEMIC; OVER RS 89 THOUSAND CRORE RAISED VIA 75 IPO ISSUES IN APRIL-NOVEMBER 2021, MUCH HIGHER THAN IN ANY YEAR IN THE LAST DECADE
- MACRO-ECONOMIC STABILITY INDICATORS SUGGEST INDIAN ECONOMY WELL PL
Please click here for: Key Highlights of Economic Survey 2022 ; Summary of Economic Survey 2022 ; Central Theme of Economic Survey 2022
Source: PIB.Gov.in