SUMMARY OF THE ECONOMIC SURVEY 2022-23

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

WHAT IS BUDGET IN ECONOMY?

Budget is a financial statement showing the expected receipt and expenditure of Govt. for the coming fiscal or financial year. Main objectives of budget are: (i) Reallocation of resources. (ii) Redistribution of income and wealth.