Team News Riveting
New Delhi, January 31
India’s economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations, said the pre-Budget Economic Survey on Monday.
The Economic Survey 2021-22, tabled by Finance Minister Nirmala Sitharaman in Parliament, expects the economy to grow by 9.2 per cent during the current financial year, indicating a recovery to the pre-pandemic level.
The first part of the Union budget session of Parliament will be held from January 31 to February 11 and the second part of the budget session will take place from March 14 to April 8.
Here are some of the important points to note:
1) Economic Survey sees GDP growth of 8-8.5% based on oil price projection of USD 70-75 per barrel range as against current price of USD 90
2) Survey calls for improving productivity of small, marginal farmers through small holding farm technologies. holding farm technologies.
3) Economy well placed to take on challenges in 2022-23
4) Indian economy in good position to witness GDP growth of 8-8.5 pc in 2022-23
5) Survey calls for improving productivity of small, marginal farmers through small holding farm technologies. holding farm technologies.
6) Robust export growth and availability of fiscal space to ramp up capital spending to support growth next fiscal
7) Climate finance will remain critical to successful climate action for India to achieve its net zero carbon emission target by 2070
8) Private sector investment to pick with financial system in good position to provide support to revival of economy
9) Robust export growth and availability of fiscal space to ramp up capital spending to support growth next fiscal
10) 14 Crop diversification towards oilseeds, pulses and horticulture needs to be given priority11) Crop diversification towards oilseeds, pulses and horticulture needs to be given priority
12) The latest survey has shifted from the two-volume format of recent years to a single volume plus a separate volume for statistical tables.
