Highlights

  • Economic Survey stated that India's GDP growth is expected to expand by 9.2% in the current financial year
  • CEA lauds govt's 4-pronged approach to tackle pandemic

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Economic Survey 2022: Govt persuaded four-pronged approach to support economy, says CEA Nageswaran

The overall approach taken as per the survey has been a short term support to economy, especially to vulnerable sections during these uncertain times while keeping a firm eye on physical stability, Nageswaran added.

Economic Survey 2022: The newly appointed Chief Economic Adviser (CEA) V Anantha Nageswaran addressed a press conference on Monday after the presentation of the Economic Survey 2021-22 by Finance Minister Nirmala Sitharaman in the Parliament, ahead of Budget 2022.

V Anantha Nageswaran said that the overall theme of the Survey was the same as the themes of the Union government's economic response to Covid and the disruptions that came in its wake.

Also read and watch: Economy bounced back to pre-pandemic levels: Sanjeev Sanyal

The government has pursued a four-pronged approach:

1. Short-term support to the economy, especially the vulnerable sections.

2. Keeping a firm eye on the medium-term fiscal stability

3. Initiating structural and supply-side reforms.

4. Attention to process reforms.

The survey showed that India's economy is expected to grow by 9.2% during the current financial year, whereas it expects the economy to grow by 8-8.5% in the fiscal beginning April 1.

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