<p>Following are the highlights of the Finance Ministry's Economic Survey 2021-22.</p>.<p>* Pegs economic growth for 2022-23 at 8-8.5 pc; for 2021-22 GDP expansion at 9.2 pc</p>.<p>* Economic activity has recovered to pre-pandemic level, economy well placed to take on challenges in 2022-23</p>.<p>* Growth in FY23 to be supported by vaccine coverage, gains from supply-side reforms and easing of regulations</p>.<p>* Growth projections based on oil price projection of USD 70-75 per barrel next fiscal, against current price of $90</p>.<p>* India's economic response to devastation caused by pandemic has been supply-side reforms, rather than demand management</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/economy-business/economic-survey-forecasts-8-85-growth-in-fy23-1076464.html" target="_blank">Economic Survey forecasts 8-8.5% growth in FY23</a></strong></p>.<p>* India’s agile policy response differed from the waterfall strategy of introducing front-loaded stimulus packages, adopted by most other countries in 2020.</p>.<p>* Robust export growth and availability of fiscal space to ramp up capital spending to support growth next fiscal</p>.<p>* Private sector investment to pick with financial system in good position to provide support to revival of economy</p>.<p>* Air India privatisation key in boosting government's privatisation drive; calls for private participation in all sector</p>.<p>* Government finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators in the previous year</p>.<p>* India transformed from being among 'Fragile Five' nations to 4th largest forex reserve, giving policy room for manoeuvring</p>.<p>* High WPI inflation is partly due to base effects that will even out, need to be wary of imported inflation, especially from elevated global energy prices</p>.<p>* Disruptions in the global container market not yet over; will continue to impact the global sea trade</p>.<p>* Crop diversification towards oilseeds, pulses and horticulture needs to be given priority</p>.<p>* Climate finance will remain critical to successful climate action for India to achieve its net-zero carbon emission target by 2070.</p>
<p>Following are the highlights of the Finance Ministry's Economic Survey 2021-22.</p>.<p>* Pegs economic growth for 2022-23 at 8-8.5 pc; for 2021-22 GDP expansion at 9.2 pc</p>.<p>* Economic activity has recovered to pre-pandemic level, economy well placed to take on challenges in 2022-23</p>.<p>* Growth in FY23 to be supported by vaccine coverage, gains from supply-side reforms and easing of regulations</p>.<p>* Growth projections based on oil price projection of USD 70-75 per barrel next fiscal, against current price of $90</p>.<p>* India's economic response to devastation caused by pandemic has been supply-side reforms, rather than demand management</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/economy-business/economic-survey-forecasts-8-85-growth-in-fy23-1076464.html" target="_blank">Economic Survey forecasts 8-8.5% growth in FY23</a></strong></p>.<p>* India’s agile policy response differed from the waterfall strategy of introducing front-loaded stimulus packages, adopted by most other countries in 2020.</p>.<p>* Robust export growth and availability of fiscal space to ramp up capital spending to support growth next fiscal</p>.<p>* Private sector investment to pick with financial system in good position to provide support to revival of economy</p>.<p>* Air India privatisation key in boosting government's privatisation drive; calls for private participation in all sector</p>.<p>* Government finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators in the previous year</p>.<p>* India transformed from being among 'Fragile Five' nations to 4th largest forex reserve, giving policy room for manoeuvring</p>.<p>* High WPI inflation is partly due to base effects that will even out, need to be wary of imported inflation, especially from elevated global energy prices</p>.<p>* Disruptions in the global container market not yet over; will continue to impact the global sea trade</p>.<p>* Crop diversification towards oilseeds, pulses and horticulture needs to be given priority</p>.<p>* Climate finance will remain critical to successful climate action for India to achieve its net-zero carbon emission target by 2070.</p>