The Economic Survey has projected the Indian economy to grow at a rate of 8-8.5 percent during the fiscal year 2022-23 (April 2022 to March 2023). On the other hand, according to the estimates of the National Statistical Office (NSO), the economic growth rate can be 9.2 percent.
The review 2021-22 details the status of various sectors of the economy as well as the reforms to be undertaken to accelerate growth. There was a decline of 7.3 percent in the Gross Domestic Product (GDP) in the financial year 2020-21.
The Economic Survey focuses on supply-side issues to strengthen the state of the Indian economy. The export of agricultural products from the country has increased by 25 percent in the last financial year (2020-21) to reach Rs 3 lakh crore.
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After the economic survey, there has been a tremendous rise in the stock market. Sensex has gone above 1000 points. The stock markets were open strong in the morning. The market has appeared happy with the higher forecast of growth in the Economic Survey. The reason for this is that higher growth will increase demand, which will have a direct impact on the performance of the companies.
