The macroeconomic stability indicators in the government’s Economic Survey suggest that the country's economy is well-placed to take on the challenges of the financial year 2022-23
1. STRONG REVENUE
The survey pointed out that revenues have witnessed a strong revival in FY22. This means that the government has fiscal room to provide support if necessary.
2. GDP ESTIMATES
The Economic Survey projected an 8-8.5 per cent gross domestic product (GDP) growth rate for the Indian economy in the 2022-23 fiscal year beginning on April 1
Agriculture and allied sectors are expected to grow by 3.9 per cent in 2021-22 after growing 3.6 per cent in the previous year.
source : Indiatoday
4. SERVICES SECTOR
Pandemic hit the services sector the hardest. It is projected to grow by 8.2 per cent this financial year following the previous fiscal's 8.4 per cent contraction
5. INDUSTRIAL SECTOR
The growth of the industrial sector has been estimated at 11.2 per cent in the economic survey for the Financial year of 2022
6. CONSUMPTION
Total consumption is estimated to have grown by 7.0 per cent in 2021-22 with significant contributions in the form of government spending
7. AIR INDIA PRIVATISATION
The Economic Survey has highlighted that privatisation of Air India was a significant step in terms of boosting the privatisation drive and gathering disinvestment proceeds
8. INCREASE IN CAPITAL SPENDING
According to the Economic Survey, there can be a sharp increase in capital spending by the government as a demand and supply-enhancing measure