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