Congress on Economic Survey: The Congress has raised questions on the Economic Survey presented on Tuesday (January 31). The Congress asked the central government whether the ‘real’ GDP growth for 2023-24 would be 5.44%. Congress spokesperson Gaurav Vallabh tweeted that the Economic Survey of 2022 predicted our economy to grow at 8-8.5 for the year 22-23. Which is about 7%.
He added that, “Now the Economic Survey of 2023 is predicting GDP growth for the year 23-24 at 6-6.8%. What is the actual? 5.44% if we apply the same relaxation.” He raised the question soon after placing the Economic Survey in the Lok Sabha on behalf of Union Finance Minister Nirmala Sitharaman.
Finance Minister kept the economic survey in the Parliament
In the Economic Survey presented in Parliament by Finance Minister Nirmala Sitharaman, it was said that the growth rate of the Indian economy is expected to come down to 6.5 percent in the next financial year. However, India will continue to be the fastest growing major economy in the world. The growth rate of India’s gross domestic product (GDP) is estimated to be seven percent in the current financial year (April 2022 to March 2023). Last year it was 8.7 percent.
The Economic Survey of 2022 predicted our economy to grow at 8-8.5 for year 22-23.
Actual – Around 7% (15% Discounting)
Now Economic Survey of 2023 is predicting GDP growth for year 23-24 at 6%-6.8%
Actual – ?? (5.44% if we apply the same discounting) #EconomicSurvey2023
— Prof. Gourav Vallabh (@GouravVallabh) January 31, 2023
What else was said in the survey?
The survey said that India is the world’s third largest economy in terms of PPP (purchasing power parity) and fifth largest in terms of exchange rate. The survey underlined the fact that agencies around the world have said that despite the wave of Kovid-19, the Russia-Ukraine war, India is the fastest growing economy.
It said that the economy has almost recovered what it had lost during the pandemic and after the conflict in Europe, reviving what had stagnated and reinvigorating what had slowed down. Has come. GDP at constant prices is estimated to be 6 percent to 6.8 percent in the next financial year. It depends on global economic and political developments.
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