Economic Survey 2022: Here are 10 key things about this year's survey

Categories: Budget Special

           The Economic Survey 2021-22 will be tabled in the Parliament by Finance Minister Nirmala Sitharaman on Monday, 31 January. The finance ministry is likely to project economic growth rate of around 9 per cent for the next financial year (2022-23), according to various experts.

           Presenting the Economic Survey before the Union Budget has been a longstanding tradition in India. The Economic Survey 2021-22 is also expected to provide a detailed assessment of the impact of coronavirus pandemic on the Indian economy.

Economic Survey 2021-22:

1. The finance ministry will likely project an economic growth rate of 9 per cent for the next financial year (2022-23). The World Bank, in a recent report, said India’s economy is projected to grow at a rate of 8.7 per cent. The Indian economy contracted by 7.3 per cent during 2020-21 due to the outbreak of the Covid-19 pandemic and countrywide lockdown.

 2. The Economic Survey 2021-22 will come out in a single volume this year. 

3. It gives detailed figures on all sectors – agricultural, industrial, manufacturing, employment, infrastructure, foreign              exchange, exports and imports among others – and highlights policy initiatives and projects undertaken by the                  government in power.

4. While the chief economic adviser traditionally prepares the report, this year the principal economic adviser and other        officials have prepared it. 

5.Nageswaran is an academic and former executive with Credit issues Group AG and Julius Baer Group. He took               charge just days ahead of the presentation of the Budget.

6. Economic Surveys provide a better understanding of the economy and help understand the Union Budget better.

7. Last year’s survey focused on the Covid-19 pandemic with India adopting a four-pillar strategy of containment, fiscal,        financial, and long-term structural reforms.

8. All Economic Surveys have a theme every year. Last year, it was saving lives and livelihoods. The theme of the 2017-     18 report was ‘pink’ as a symbol for women empowerment.

9. All the Economic Survey reports can be found on the website of the ministry of finance in PDF format.

10.India is not the only country to present such a survey. The United States, Scandinavian as well as European Union          countries have their own economic surveys.