Insights into Indian Economic Survey 2021-22: Growth, Stability & Activity
Explore the major indicators, sectoral growth rates, consumption & investment components, deficit & tax collection trends, and sectoral shares in GDP of the Indian economy for 2021-22. Understand the recovery over 2019-20 and analyze international trade and BoP data.
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Presentation Transcript
GS -Special Economic Survey 2021-22
The State of Indian Economy MAJOR INDICATORS GROWTH STABILITY ACTIVITY GDP GDP Inflation Inflation Consumption Consumption Investment Investment Fiscal Deficit Fiscal Deficit International Trade International Trade Foreign Foreign Investment Investment Current Account Deficit Current Account Deficit Tax Collection Tax Collection Debt/GDP Ratio Debt/GDP Ratio
Consumption and Investment Components 2019-20 (1st RE) 2020-21 (PE) 2021-22 (1st AE) Recovery over 2019-20 Total Consumption 5.9 -7.3 7.0 99.2 Government Consumption 7.9 2.9 7.6 110.7 Private Consumption 5.5 -9.1 6.9 97.1 Gross Fixed Capital Formation 5.4 -10.8 15.0 102.6 Exports -3.3 -4.7 16.5 111.1 Imports -0.8 -13.6 29.4 111.8 GDP 4.0 -7.3 9.2 101.3 Sectors 2019-20 (1st RE) 2020-21 (PE) 2021-22 (1st AE) Total Consumption 71.7 71.1 69.7 Government Consumption 11.2 12.5 12.2 Private Consumption 60.5 58.6 57.5 Gross Fixed Capital Formation 28.8 27.1 29.6 Exports 18.4 18.7 20.1 Imports 21.0 19.2 23.1 GDP 100.0 100.0 100.0
Deficit and Tax Collection Direct tax Collection Indirect Tax Collection Tax/GDP Ratio Debt/GDP ratio 5.0 (21-22) 4.9 (21-22) 9.9 (21-22) 59 (21-22) 6.0 (18-19) 4.9 (18-19) 10.9 (18-19) 46 (18-19)
Sectoral Growth Rates 2019-20 (1st RE) 2020-21 (PE) 2021-22 (1st AE) Recovery over 2019-20 Sectors Agriculture & Allied Sectors 4.3 3.6 3.9 107.7 Industry -1.2 -7.0 11.8 104.1 Mining & quarrying -2.5 -8.5 14.3 104.6 Manufacturing -2.4 -7.2 12.5 104.4 Electricity, gas, water supply & utility services 2.1 1.9 8.5 110.5 Construction 1.0 -8.6 10.7 101.2 Services 7.2 -8.4 8.2 99.2 Trade, hotels, transport, comm. & services related to broadcasting 6.4 -18.2 11.9 91.5 Financial, real estate & professional services 7.3 -1.5 4.0 102.5 Public administration, defence and Other Services 8.3 -4.6 10.7 105.6 GVA at basic price 4.1 -6.2 8.6 101.9
Sectoral Share in GDP Sectors 2019-20 (1st RE) 2020-21 (PE) 2021-22 (1st AE) Agriculture & Allied Sectors 18.4 20.2 18.8 Industry 26.7 25.9 28.2 Mining & quarrying 1.9 1.6 2.3 Manufacturing 14.7 14.4 15.4 Electricity, gas, water supply & other utility services 2.6 2.7 2.5 Construction 7.4 7.2 8.0 Services 55.0 53.9 53.0 Trade, hotels, transport, communication and services related to broadcasting 18.9 16.4 16.9 Financial, real estate & professional services 21.2 22.1 20.9 Public administration, defence and Other Services 14.9 15.4 15.2 GVA at basic price 100.0 100.0 100.0
Exchange rate and Foreign Investment
Supply-Side Disruption As the world economy recovered in 2021, it is faced with serious supply-side constraints ranging from delivery delays, container shortages and semiconductor chip shortages. The shortage of containers has also impacted the Indian sea trade. According to the Federation of Indian Export Organization set up under the Ministry of Commerce and Industry, the lack of containers has resulted in rising sea freight rates in the range of 300 per cent to 350 per Cent. supply chain disruptions in the semiconductor industry have spillovers in over 169 industries. The manufacturing of semiconductors requires large amount of capital and has an average gestation period of 6-9 months. Moreover, it has a fairly-long production cycle of about 18-20 weeks. Hence, any recovery from the supply chain disruptions will be a slow and costly affair.
Economic Crisis faced by India in 21st century
2020 3.1 4.5 3.4 6.4 4.6 8.0 8.9 10.8 4.5 9.4 5.2 1.9 2021 5.9 5.0 5.6 5.2 2.7 6.7 6.2 4.9 1.6 7.2 4.7 4.7 2022 4.4 3.9 4.0 3.9 3.8 3.5 3.8 5.8 3.3 4.7 4.1 3.6 2023 3.8 2.6 2.6 2.5 2.5 1.8 2.2 3.8 1.8 2.3 2.8 2.9 World Output Advanced Economies United States Euro Area Germany France Italy Spain Japan United Kingdom Canada Other Advanced Economies* Emerging Market and Developing Economies Emerging and Developing Asia China India** Growth prospects 2.0 6.5 4.8 4.7 0.9 7.2 5.9 5.8 2.3 7.3 8.1 9.0 4.8 9.0 5.2 7.1
