The annual Economic Survey 2022 was tabled in Parliament on Friday (31st January 2022) by Finance Minister Smt Nirmala Sitharaman. The survey has been prepared by Chief economic adviser V Anantha Nageswaran. You can download Economic Survey 2022 PDF here
What is Economic Survey ?
The Economic Survey is an annual document that reviews the developments in the economy over the previous 12 months. Every year, the Economic Survey is tabled in the Parliament a day before the Union Budget.
The document summarises the performance on major development programmes, highlights the policy initiatives of the government and analyses the prospects of the economy in the short to medium-term.
It is a detailed report card on the economic performance throughout the financial year.
Economic Survey 2022 (2021-22): Important Highlights
- Indian economy estimated to grow by 9.2 percent in real terms in 2021-22 (as per first advanced estimates) subsequent to a contraction of 7.3 percent in 2020-21.
- GDP projected to grow by 8- 8.5 percent in real terms in 2022-23.
- 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.
Read Sector-wise Summary
List of chapters: Economic Survey 2021-22
|Name of Chapter
|State of the Economy
|Monetary Management and Financial Intermediation
|Prices and Inflation
|Sustainable Development and Climate Change
|Agriculture and Food Management
|Industry and Infrastructure
|Social Infrastructure, Employment and Human Development
|Tracking Development through Satellite Images and Cartography
Economic Survey 2022 Download PDF
Download Economic Survey 2022 PDF English – Download PDF
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