Budget 2022: Indian economy to grow 9.2% in current year, says FM Sitharaman

The Indian economy is expected to grow at 9.2 per cent in the ongoing financial year, Finance Minister Niramala Sitharaman said on Tuesday while presenting the Union Budget for 2022-23.

Sitharaman started her speech by expressing her empathy with those who had to bear the adverse health and economic effects of the COVID-19 pandemic.

"At the outset, I want to take a moment to express my empathy for those who had to bear adverse health and economic effects of the pandemic," the finance minister said.

She said that the overall sharp rebound and recovery of the economy is reflective of the country’s strong resilience.

Sitharaman said that the country is in the midst of an Omicron wave, with high incidence, but milder symptoms. Besides, the speed and coverage of India's vaccination campaign has helped greatly. 

"With the accelerated improvement of health infrastructure in the past two years, we are in a strong position to withstand challenges. I am confident that with Sabka Prayas we will continue our journey of strong growth.

The government, she said, aims to complement the macro-economic level growth focus with a micro-economic level all-inclusive welfare focus; promote digital economy and fintech, technology enabled development, energy transition, and climate action; and rely on virtuous cycle starting from private investment with public capital investment helping to crowd-in private investment.

Also Read: Check out the live coverage of Budget and reactions here

Also Read: Budget 2022: FM Sitharaman raises capex outlay by 35.4% to Rs 7.50 lakh cr