Advertisement
Monday, Sep 27, 2021
Outlook.com
Outlook.com

FM Sitharaman Tables Economic Survey, GDP To Expand By 11% In FY22

The economy, which was battered by the coronavirus lockdown, is expected to see a strong recovery in the 2021-22 fiscal year.

FM Sitharaman Tables Economic Survey, GDP To Expand By 11% In FY22
| PTI
FM Sitharaman Tables Economic Survey, GDP To Expand By 11% In FY22
outlookindia.com
2021-01-29T15:34:07+05:30

The Economic Survey 2020-21 tabled by the union finance minister Nirmala Sitharaman on Friday ahead of the union budget stated that India’s real GDP is expected to grow at 11% in the next fiscal year 2021-22.

The Economic survey predicted a “V-shaped” economic recovery for the country stating that the Covid-19 vaccination program will be one of the triggers for the growth. However, it cautioned that it will take at least the next two years for India to be able to reach back its pre-pandemic GDP levels.

Prepared by the economic adviser KV Subramanian and his team the survey said that the government is going to miss its fiscal deficit target of 3.5% of GDP this year as it has to focus more on reviving growth and economy.

It pointed out that economic activities in the country were severely hit due to coronavirus pandemic since March 2020. Millions of people have lost jobs and agriculture remained the silver lining. It said, “Agriculture has remained the silver lining, while contact-based services, manufacturing and construction sectors were the worst hit by the Covid-19 pandemic.”

The Economic Survey 2021 is of particular significance as it was recorded during Covid pandemic. 

Economic Surveys are generally presented a day before the budget, but the tradition was broken as the budget follows a weekend this year.

Advertisement

Outlook Newsletters

Advertisement

Read More from Outlook

There Is A Method To The Madness In Opposition’s Demand For A Caste Census

There Is A Method To The Madness In Opposition’s Demand For A Caste Census

Non-BJP parties hoping to stall the massive shift of OBCs towards the Hindutva brigade. But there are gains too for the BJP if it plays its cards well.

Farmers Claim Pan India Support To Bharat Bandh

Farmers Claim Pan India Support To Bharat Bandh

Belying government claims, the farmers' support base has been expanding given the support from larger number of people from all walks of life and of all ages.

‘Sports NFTs Are A Movement, Not Just A Meme’

‘Sports NFTs Are A Movement, Not Just A Meme’

The sports NFT market is brand new with tremendous potential and is growing fast, says Sidarttha Bezbora.

In Kashmir, Each One A Kabul Expert

In Kashmir, Each One A Kabul Expert

Long before the fall of Kabul on August 15 and before the news channels became keen on its unfolding, Kashmiris have been keeping eye on Afghanistan.

Advertisement