News Leak Centre

No Fear No Favour

Economic Survey 2022: PM Narendra Modi addresses media ahead of the Budget Session.

The Economic Survey for 2021-22 is expected to give a growth projection of around 9% for the next FY as Asia’s third-largest economy is showing signs of recovery from the pandemic. The pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions, quite often misses on the GDP forecast, sometimes by a significant margin. This time, Finance Minister Nirmala will table the Economic Survey for 2021-22 in the Lok Sabha on Monday soon after the President’s Address to both Houses of Parliament. She will present the Union Budget for the next financial year beginning April 1, 2022, on Tuesday.

One of the most-watched numbers in the pre-Budget Economic Survey, authored by a team led by Chief Economic Advisor (CEA), is the projection of the Gross Domestic Product (GDP) for the next fiscal. The previous economic survey was presented in the midst of the Covid-19 pandemic. The ray of optimism as the country recovers from the impact of the pandemic is likely to figure prominently in the current year’s economic survey. However, various high-frequency indicators like GST collections and corporate profitability are pointing towards significant upward movement. The previous economic survey was presented in the midst of the Covid-19 pandemic. Just days before the presentation of the Economic Survey, the government-appointed economist V Anantha Nageswaran as the new CEA. Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted the office of CEA in December 2021 after the completion of his three-year term. The Economic Survey for 2021-22 is expected to give a growth projection of around 9 percent for the next financial year as Asia’s third-largest economy is showing signs of recovery from the pandemic.

Leave a Reply

Your email address will not be published.