The economic survey has projected a growth rate of 8 per cent to 8.5 per cent in 2022-23. The document was tabled by finance minister Nirmala Sitharaman in Parliament on Monday, ahead of the presentation of the Union Budget tomorrow (February 1).
The economic survey (2021-22) focusses on supply-side issues to improve the resilience of the economy.
The economy growth rate projected by the survey for the forthcoming fiscal is lesser than the GDP growth rate of 9.2 per cent for the current fiscal (2021-22), which was estimated by the National Statistical Office (NSO) earlier this month in its first advance estimates of economic output.
NSO had expressed concern over the likely impact of the third wave of the Coronavirus pandemic. The GDP had contracted by 7.3 per cent in 2020-21.
The economic survey 2021-22, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
All macro indicators indicated the economy was well placed to face challenges, helped by pick ups in farm and industrial output growth, the report said.