ECONOMIC SURVEY 2022- ANALYSIS 

Economic survey 2022 analysis covering major aspects for competitive exams. Economic survey is an annual document that contains most authoritative and updated information about Indian economy released before annual budget.

Recently, the Economic Survey 2021-22 was tabled in Parliament by the Finance Minister soon after the President’s address to both Houses of Parliament. The central theme of this year’s Economic Survey is the “Agile approach”, implemented through India’s economic response to the COVID-19 pandemic shock, according to the Union Ministry of Finance. We can analyse significant findings and suggestions given in economic survey 2022 to boost Indian economy.

Economic survey 2022-In Fiscal space

Major findings of Economic survey 2022 in fiscal space

1. Increase in capital expenditure: Grown by 13.5% (April-November 2021)
2. Fiscal Deficit predicted at 6.8% of GDP.
3. Indias GDP grew at 9.2% in real terms which is inline with predictions of WB and ADB.
4. Revenue receipts of government gone up by 67.2%
5. Gross monthly GST collections have crossed 1 lakh crore consistently.

Suggestions for fiscal space in Economic survey 2022

1. Increasing more capex in roads and railways to boost economy.
2. Provide sufficient capital for banks to make investments.
3. Afford market lending with continued stress on capital expenditure.

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Economic survey 2022- Agriculture sector

Major findings in economic survey 2022 about agriculture sector

1. High dependence on ground water for irrigation (60% of net irrigated area)
2. Decrease in subsidy- Fuel, fertilizers and food.
3. Fragmented land holding led to alternative sources become significant like livestock, fisheries..etc

Suggestion for agriculture sector by economic survey 2022

1. To promote the use of coast effective organic fertilizers and neem coated urea.
2. Use MSP policy to promote crop diversification.
3. Encourage alternative activities in agriculture like live stock farming.
4. Promote food processing & allied sectors investment to enhance farmers income.

Economic survey 2022- Industries

Findings in economic survey 2022 about industries

1. Increased growth rate of mfg sector- 12.5% by NSO
2. Growth of Industrial sector estimated at 11.2% in FY 22.
3. Global disruption affects industrial activities.
4. Net profit to sales ratio reached all-time high post lifting lockdown restrictions

Economic survey 2022 suggestions for industries.

1. Production linked incentives scheme play vital role in pushing industries like pharma, renewable energy ..etc.
2. Encouraging more start ups as 44 indian start ups achieved unicorn status.

Economic survey 22022-Pandemic & social infrastructure

Economic survey 2022 -Findings about pandemic and social infrastructure.

1. Higher expenditure on social services (8.6% of GDP)
2. Initiatives to handle pandemic provided safety net to vulnerable sections like free vaccines.
3. Service sector worst affected due to pandemic- GVA declined to 53%.

Economic survey 2022 Suggestions for pandemic & social infrastructure.

1. Increase fund allocation to MGNREGA to support rural workers in pandemic.
2. Improve vocational education and greater multi disciplinary research facilities in higher education.
3. Wide scale vaccination would lead to faster normalization & prevent further disruptions in economic growth.

Economic survey 2022-Green finance & energy sector

Economic survey 2022- Findings about green finance and energy sector

1. India’s overall Niti Aayog SDG index score improved to 66.

Economic survey 2022 suggestions for green finance and energy sector.

1. Set up committee for green fund, green banks, green loans in a push for SDG.
2. Proposing new ways to finance sustainable projects (Green bonds).
3. Diversification of energy generation with renewable sources
4. More investment in R & D.
5. Government to focus the pace of shift from conventional fossil fuel based sources.

Economic survey 2022- Other findings

1. Repo rate maintained at 4%
2. CPI reduced from 6.6 to 5.2 whereas WPI remained high at 12.8
3. India has 10th largest forests area in world.
4. Food inflation averaged at 2.9% against 9.1% (April to December) last year.
5. Exports are estimated to grow by 16.5% and imports by 29.4%.

Economic survey provided an optimistic future of indian economy. With increase in investment, virtuous cycle of growth can be maintained. Thus we can see a transition to stable state as compared to pre pandemic levels.