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Highlights

  • The Survey projected a GDP growth rate in the range of 8-8.5% for the next fiscal 2022-23 (FY23)
  • The economy is projected to grow at 9.2 per cent in the current fiscal.

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Budget 2022: Govt makes case for higher spending, fiscal space in Eco Survey

Fiscal deficit for FY'22 likely to meet estimates of 6.8% and reduce to 6.1% in the coming fiscal year. 

Updated: Sep 02, 2022 10:53
|

EJ Biz Desk

Budget 2022: Govt makes case for higher spending, fiscal space in Eco Survey

Budget 2022: Let the money flow! The Economic Survey has cued the tune of spending for the Budget 2022. The digital copy of the document highlights the 'space' North Block has to keep growth supported while keeping an eye on fiscal fitness

Here is what the Economic Survey states-:

• Economy well placed to take on challenges of FY23

• The strong revival in revenues in FY22 means that Government has fiscal space to provide additional support if necessary

• Financial system in a good place to support revival

The fiscal deficit for 2022 is pegged at 6.8% is likely to meet the budget estimates due to buoyant tax revenues even if the govt does not cash in LIC divestment this year.

Budget subsidy spend - Govt said to spend another $40 billion on food, fertiliser

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