Budget session: Centre expects economy to grow at 8-8.5 per cent, states Economic Survey

Robust export growth and availability of fiscal space to ramp up capital spending to support growth next fiscal, states Economic Survey

Economic Survey Highlights:

• India expects GDP growth of 8-8.5 per cent in in Financial Year 2023
• Real GDP growth for projects in 2021-22 was 9.2 per cent
• Agriculture sector to grow 3.9 per cent in 2021-22
• Industrial sector to grow 11.8 per cent in 2021-22
• Services sector to grow 8.2 per cent in 2021-22
• All macro indicators indicate the economy is well placed to face challenges, helped by pick ups in farm and industrial output growth
• The projection is based on the assumption that there will be no further debilitating pandemic-related economic disruption, monsoon will be normal, withdrawal of global liquidity by major central banks will be orderly

The Economic Survey shows an expected 8-8.5 per cent growth rate for the economy in the 2022-23 fiscal year, down from the estimated 9.2 per cent GDP expansion as projected by the National Statistical Office

Private sector investment to pick with financial system in good position to provide support to revival of economy, states Economic Survey report