Similarly, it adds that imports are expected to grow by 29.4 per cent in 2021-22 surpassing corresponding pre-pandemic levels.
Talking to Business Today Television, Pranjul Bhandari, Chief India Economist at HSBC said the government is going to borrow a lot of money from the markets which has made the debt markets nervous. If at this time RBI hikes rates or drains out liquidity, then the bond markets may be doubly hurt.
With the increase in allocation to Rs 24,000 crore, the quantum of investments and domestic manufacturing capacity envisaged under the PLI scheme would further increase.
The world’s fifth-largest economy must brace for higher inflation with a strong possibility of pent-up demand exceeding supply and geopolitical tensions resulting in commodity prices going northwards.
Economic Survey 2021-22: Sanyal said that he, along with the best minds in the country, could best come up with ‘tilted W’ to describe economic growth.
Non-food bank credit growth that remained muted during much of the pandemic period has gradually improved and stood at 9.3 per cent as on 31st December 2021, as against 6.6 per cent a year ago, the survey noted.
In FY22, its share in India’s Gross Value Added (GVA) declined from 55 per cent in 2019-20 to 53 per cent, according to the Economic Survey.
The survey clearly says that reaching the Union Budget 2021-22 estimate for fiscal deficit at 6.8 per cent of GDP will not be a concern for the Central Government.
It further said that The New Public Sector Enterprise Policy and Asset Monetisation Strategy reaffirm the government’s commitment towards privatisation and strategic disinvestment of PSEs.
The report quoted advance estimates that suggested that the real GDP will expand 9.2 per cent in 2021-22, after contracting in 2020-21.
The Budget this year is expected to address the issue of the farmers. It is an opportune moment to win them back.
Despite formalisation gathering pace, the informal sector continues to employ about 80% of India's labour force and produces 50% of its GDP.
The upcoming general Budget is likely to provide several sops for the housing sector, including 15-20 per cent higher fiscal support.
Subramanian Swamy, economist and Member of Parliament, in an exclusive interaction with Business Today, discussed various aspects of the economy and steps needed to bring it back on the right track.
The asset monetisation target is unlikely to be revised in the Union Budget 2022-2023, a source familiar with the matter told Business Today.
As agriculture remains the backbone of rural economy in India, the sector is likely to remain in spotlight in the upcoming Union Budget. So, what are the key steps needed to unlock the farm sector's true potential in enhancing productivity and growth? Here's what the Budget 2022-23 may have to provide a booster shot to farmers.
For the current financial year, the government has set a credit target of Rs16.5 lakh crore.
The Confederation of Indian Industry (CII) has laid down key recommendations for the upcoming Union Budget 2022-23 in a document titled Pre-Budget Memorandum 2022-23.
The GOI has asked for suggestions from citizens on the upcoming Budget. Last date to submit suggestions is January 7.
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