{"id":2231,"date":"2024-06-13T23:45:56","date_gmt":"2024-06-13T23:45:56","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=2231"},"modified":"2024-06-13T23:45:56","modified_gmt":"2024-06-13T23:45:56","slug":"economic-survey-2022-23","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/economic-survey-2022-23\/","title":{"rendered":"Economic Survey 2022-23"},"content":{"rendered":"

The Economic Survey is an annual report card of the economy<\/a>, which is presented a day before the budget and examines the performance of each and every sector and then suggests future moves.<\/p>\n

India’s economy to grow 6.5% in 2023-24, compared to 7% this fiscal and 8.7% in 2021-22. Gross domestic product (GDP) in nominal terms to be 11% in next fiscal<\/p>\n

Growth<\/a> driven by private consumption, higher capex, strengthening corporate balance sheet, credit growth to small businesses and return of migrant workers to cities<\/p>\n

growth to be in the range of 6-6.8% next fiscal depending on global economic, political developments<\/p>\n

Challenge to rupee depreciation persists with the likelihood of further interest rate hikes by the US Fed<\/p>\n

Current Account<\/a> deficit (CAD) may continue to widen as global commodity prices remain elevated, economic growth momentum stays strong. If CAD widens further, rupee may come under depreciation pressure<\/p>\n

The country’s Current Account Deficit<\/a> widened to 4.4% of the GDP in the quarter ending September, from 2.2% of the GDP during the April-June period due to a higher trade gap, according to the latest Reserve Bank Of India<\/a> (RBI) data.<\/p>\n

India has sufficient forex reserves to finance CAD and intervene in forex market to manage rupee volatility<\/p>\n

The growth in exports has moderated in second half of current fiscal; the surge in growth rate in 2021-22 and first half of current fiscal led to production processes shifting gears from ‘mild acceleration’ to ‘cruise mode’<\/p>\n

Slowing world growth, shrinking global trade led to loss of export stimulus in the second half of current year<\/p>\n

Bank credit growth likely to be brisk in FY24 on back of benign Inflation<\/a>, moderate credit cost<\/p>\n

Credit growth to small businesses high at over 30.5% in January-November, 2022<\/p>\n

Central govt capex grew 63.4% in April-November of current fiscal<\/p>\n

Stock market gave positive returns in calendar year 2022 unfazed by FPI withdrawal<\/p>\n

Private consumption, Capital Formation<\/a> led economic growth in current fiscal has helped generate EMPLOYMENT<\/a>; urban employment rate declined, while Employee Provident Fund registration rose<\/p>\n

The Survey said that ‘entrenched inflation’ may prolong the tightening cycle and therefore borrowing costs may stay higher for longer<\/p>\n","protected":false},"excerpt":{"rendered":"

The Economic Survey is an annual report card of the economy, which is presented a day before the budget and examines the performance of each and every sector and then suggests future moves. India’s economy to grow 6.5% in 2023-24, compared to 7% this fiscal and 8.7% in 2021-22. Gross domestic product (GDP) in nominal … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595],"tags":[599],"class_list":["post-2231","post","type-post","status-publish","format-standard","hentry","category-current-affairs","tag-01-02-23"],"yoast_head":"\nEconomic Survey 2022-23 - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/13\/economic-survey-2022-23\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic Survey 2022-23\" \/>\n<meta property=\"og:description\" content=\"The Economic Survey is an annual report card of the economy, which is presented a day before the budget and examines the performance of each and every sector and then suggests future moves. 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