Dec 01 2022

Economic Survey 2022 Updates (Expects growth of around 9% for the next financial year)

Economic Survey 2022 Updates (Expects growth of around 9% for the next financial year)

The pre-budget economic survey, which is tabled in Parliament before the Union Budget to present the state of the economy and suggest policy suggestions, often misses GDP estimates, sometimes with significant differences. Finance Minister Nirmala Sitharaman will present the Economic Survey for 2021-22 in the Lok Sabha shortly after the President's address to both the Houses of Parliament. It will present the Union Budget for the next financial year from Tuesday 1 April 2022

Here's what to look for:
1. The pre-budget economic survey was written by a team led by the Chief Economic Adviser (CEA).
2. A few days before the presentation, the Center appointed economist V Anantha Nageshwaran as the new CEA.
3. One of the most viewed figures in the Economic Survey is the GDP forecast for the next financial year
An earlier economic survey was conducted during the Kovid-19 epidemic
4. This year's economic survey highlights optimism about recovery from the effects of the epidemic
5. High-frequency indicators such as GST collection and corporate profits point to significant upward movement

What's on the agenda?
1. The President will address both the Houses of Parliament at 11 am
2. The Lok Sabha will convene for half an hour after the President's address
3. FM Sitharaman will present the Economic Survey 2021-22 in the Lok Sabha.

Prime Minister Narendra Modi spoke to the media before the budget session. "The budget session is starting from today.

The President began the budget session with a lengthy speech in both Houses of Parliament. During the speech, Kovind lauded India's fight against Kovid-19 and commended the government for its efforts to help India's rural population and uplift the status of women in the country. He also highlighted India's growing self-reliance in the defense sector. A few days before the presentation of the Economic Survey, the government appointed economist V Anantha Nageshwaran as the new Chief Economic Adviser (CEA).
 
"It is true that voting affects sessions and discussions. But I urge all MPs that elections will take place but the budget session draws the blueprint of the year. The more fruitful this season, the better the rest of the year. We will take the country to economic heights," he added. Chief Economic Adviser Dr. V. Anantha Nageshwaran will address the press conference at 3.45 pm today, which will be his first press conference since taking over as India's new CEO.

Nirmala Sitharaman will present the Economic Survey 2022 in the Lok Sabha on Monday. This will be done soon after the President's address to both the Houses of Parliament. It will come a day before the Union Budget 2022 is presented. The President's contingent has already entered Parliament before his speech. The economic survey, as usual, is expected to be in line with this year's budget, which will focus on the healthcare sector during the epidemic. The 2022 budget will be tabled in Parliament on February 1.

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Posted by : Aniket Gaikwad

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