Economic Survey: 8.5% growth in 2022-23, Capex and exports growth drivers

Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2021-22 in Lok Sabha earlier today. The pre-Budget survey states that India has the fiscal legroom to boost spending to achieve record growth, likely wresting the title of the world’s fastest growing economy from China. The survey also projected a growth rate of 8% to 8.5% in 2022-23. The document added that the growth will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending. The Economic Survey has also flagged global resurgence of inflation and warns of imported inflation. Catch the key highlights here.