Economic Survey in 5 points: Nurturing a post-Covid recovery and the risk factors
The Survey has pointed out the “strong revival in revenues” — being 67% higher year-on-year in April-November 2021 — to peg that the government has fiscal space “to provide additional support if necessary”.
Finance Minister Nirmala Sitharaman tabled the Economic Survey in the Lok Sabha on Monday. (Photo: PTI) Setting the tone for the Union Budget 2022-23, to be presented on Tuesday, the Economic Survey 2021-22 tabled in the Parliament on Monday stressed on the need for the government to provide a buffer against stresses such as the uncertainty in the global environment, the cycle of liquidity withdrawal by major central banks, etc.
Here are five significant pointers from the Survey that set the stage for the upcoming Budget:
1. The Survey has pointed out the “strong revival in revenues” — being 67% higher year-on-year in April-November 2021 — to peg that the government has fiscal space “to provide additional support if necessary”.
2. It has flagged inflation as a global issue in both advanced and emerging economies. In particular, it said that while the CPI inflation is within the targeted tolerance band, WPI inflation has been running in double digits. And even though this is partly due to base effects that will even out, “India does need to be wary of imported inflation, especially from elevated global energy prices”.
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