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Economic Survey 2022: Government has fiscal space for additional support if needed

Economic Survey 2022: The 9.2 percent GDP growth projection is comparable with the World Bank’s and Asian Development Bank’s latest forecasts of real GDP growth of 8.7 percent and 7.5 percent for 2022-23

January 31, 2022 / 01:45 PM IST
Finance Minister Nirmala Sitaraman.

Finance Minister Nirmala Sitaraman.

The government has the fiscal capacity to maintain the support, and ramp up capital expenditure when required, according to the Economic Survey 2022 tabled on January 31.

More than 67 percent on-year revival in revenues provides the government with the fiscal space to offer additional support as well, if necessary.

The Economic Survey has predicted a 9.2 percent growth for the economy during 2021-22. This projection is comparable with the World Bank’s and Asian Development Bank’s latest forecasts of real GDP growth of 8.7 percent and 7.5 percent, respectively, for 2022-23.

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