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Economic Survey 2022 pegs FY23 GDP growth at 8-8.5%

Economic Survey 2022: Calls for modifying IBC to make processes simpler; sounded a note of caution on the potential of the US Fed Reserve’s tapering on India; surging domestic inflation and rising oil prices remain as watch out areas; bats for A-I, drones for agri reforms

January 31, 2022 / 03:39 PM IST

India will grow 8-8.5 per cent in 2022-23, the Economic Survey said in a guarded prognosis on January 31, with the economy poised to dash onto a faster lane, decisively leaving behind the coronavirus-inflicted devastation.

It, however, cautioned about rising oil prices, surging inflation, creeping interest rates in the US whose ripples could be felt in India, and identified employment, education and agriculture as the three key focus areas in the medium term.

“This projection is based on the assumption that there will be no further debilitating pandemic related economic disruption, monsoon will be normal, withdrawal of global liquidity by major central banks will be broadly orderly, oil prices will be in the range of $70-$75 per barrel, and global supply chain disruptions will steadily ease over the course of the year,” the annual Economic Survey 2021-22 tabled in Parliament on Monday, said.

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