India’s Economic Survey projects 8-8.5 percent growth next year, here are other key points to note

Indian government projects 8-8.5 percent growth rate for the financial year 2022-2023.

Gross Domestic Product (GDP) of the second quarter for the financial year 2021-22 grew by 8.4 percent,...

...which is one of the fastest rates among major economies.

The Indian economy is expected to witness real GDP growth of 9.2 percent.

The Finance Minister said that the economic activity across all sectors have improved or recovered past the pre-pandemic levels.

India’s industrial sector is expected to grow at 11.8 percent in 2022-23 as per the Economic Survey.

Agricultural sector, which was the least hit sector during the pandemic, is projected...

...to grow 3.9 percent during the upcoming year, as compared to 3.6 percent last year.

Services segment has been the hardest hit sector during the COVID-19 pandemic.

The survey reveals that this sector will grow by 8.2 percent in 2022-23.

The latest Economic Survey 2022 cites vaccine coverage,...

...capital expenditure and exports to be the key growth drivers.

Inflation has once again appeared as one of the major issues and...

...the Omicron variant is one of the major reasons behind it, as per the survey.

India is the third largest startup ecosystem

With 14,000 new startups added in 2020-21, India has become the third largest country, for startups, after the United States and China. Also, 44 Indian startups bagged the unicorn status in 2021, taking the total tally of unicorns in India to 83. A unicorn, in startup parlance, is a private firm valued at or over $1 billion.

India’s capital markets outperformed this year with 50 percent growth

The Indian stock markets outperformed between April and November, as the year has been exceptionally good for the primary markets in fundraising through initial public offerings (IPOs). The survey revealed that a 50 percent growth has been noticed with ₹89,066 crore raised via 75 IPOs during this period.