Nirmala Sitharaman tables Economic Survey, GDP estimate for FY23 is at 8-8.5 per cent

Updated: Monday, January 31, 2022, 14:58 [IST]

New Delhi, Jan 31: Finance Minister Nirmala Sitharaman has tabled the Economic Survey report in the Lok Sabha.The GDP has been projected at 8 to 8.5% for FY 2022-23.

The figures are in comparison with the 9.2 per cent GDP (gross domestic product) expansion projected by the National Statistical Office (NSO).

• GDP growth rate projected in the range of 8-8.5% for the next fiscal 2022-23 (FY23)

• The GDP growth rate for the ongoing financial year 2021-22 (FY22) isestimated at 9.2 per cent.

• Agriculture least hit by pandemic, sector to grow by 3.9% in 2021-22 after growing 3.6% the previous year

• Economic Survey flags global resurgence of inflation, warns of imported inflation

• Economic Survey flags Industrial sector likely to grow at 11.8%.

• Economic Survey pegs services sector to see 8.2% growth in 2021-22

• Government consumption is estimated to grow by a strong 7.6% surpassing pre-pandemic levels.

• India's total exports are expected to grow by 16.5% in 2021-22 surpassingnpre-pandemic levels.

• Economic Survey pegs Imports are expected to grow by 29.4% in 2021-22

• Consumption has grown 7% in 2021-22 with a significant chunk of it thanks to government spending.

• Railways: Rs 65,157 crore capital expenditure from April to November 2021

• India has third largest startup ecosystem in the world after US and China.

• Forex, low current account deficit and capital inflows keeping external sector well supported

• UPI takes centre stage, with the country seeing 4.6 billion transactions worth Rs 8.26 lakh crore in December 2021 alone

• In April-November 2021, UPI processed more than 24.26 million One
Time Mandate create transactions worth Rs 44,381 crore.

• Housing sales expected to see a boost after COVID-19 slump on the back of reduced duties in multiple states

• Five sectors capture around 83% of the aggregate pipeline value: Roads
(27%), Railways (25%), Power (15%), Oil & Gas pipelines (8%) and Telecom (6%)

• Climate finance will remain critical to successful climate action by developing
countries, including India," says the Survey