What’s in the news?
- The Economic Survey 2022-23 has projected a baseline GDP growth of 6.5 per cent in real terms in the next financial year.
- The Survey was presented in both Houses of Parliament today by Finance Minister Nirmala Sitharamna ahead of the Union Budget.
- According to the survey, the Indian economy is expected to grow at 7 per cent in real terms in the current financial year. It also said India to remain the fastest-growing major economy in the world.
- The survey said India has become the world’s fifth largest economy and the nominal GDP of India will be around 3.5 trillion US dollars in March this year.
- According to the survey, the annual rate of inflation is below 6 per cent and wholesale prices are rising at a rate below 5 per cent.
- The export of goods and services in the first nine months of the current financial year is up 16 per cent compared to the same period in 2021-22.