Union Home Minister Amit Shah on Tuesday said growth and optimism in all sectors in the Economic Survey 2023 shows that India is set to emerge as a global superpower.
India's foreign exchange reserves stood at USD 532.7 billion as of September-end of 2022, covering 8.8 months of imports according to the Economic Survey tabled by Union Finance Minister Nirmala Sitharaman in Parliament today.
The CEA said, "General government spending with both the Union and the state governments put together, education has gone up from Rs 5.3 lakh crore to Rs 7.6 lakh crore and healthcare almost more than double in the last three years."
During the press conference which took place after the Survey was presented in the House today, CEA Nageswaran said, "Recovery of economy is complete; non-banking and corporate sectors now have healthy balance sheets, hence, we don't have to speak of pandemic recovery anymore, we have to loo
Indian economy is expected to grow at 7 per cent (in real terms) during the financial year ending March 2023, according to the Economic Survey for 2022-23 released on Tuesday.
During the mentioned period of 2022-23, the capex spending on housing and urban affairs was Rs 11,000 crore as against Rs 17,000 crore same period last year. The Budgeted capex estimate for entire 2022-23 financial was Rs 27,000 crore.
Capital expenditure spending in India increased by 63.4 per cent in the first eight months of 2022-23, according to the Economic Survey document for 2022-23 which, projected the capex rise as another growth driver of the Indian economy.
The Survey said, "Merchandise exports were USD 332.8 billion over April-December 2022 against USD 305 billion during the period April-December 2021. Nonpetroleum and non-gems and jewellery exports in April-December 2022 were USD 233.5 billion, as compared to USD 230 billion in April-December
The Economic Survey document said the growth projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, the Asian Development Bank and the Reserve Bank of India.