The economic survey for financial year 2022 shows a progressive figure in all the sectors of the economy which shows a bright future for the Indian economy and gives an inclination about possible policies and incentives for small businesses in India -said Shri B.C.Bhartia, National President and Mr. Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT) in a joint statement
Mr. Bhartia & Mr. Khandelwal said that we have to see the economic survey in a comprehensive manner under the background of a fatal crisis due to covid and disruption in smooth flow of goods and services in the economy. The timely and bold measures taken by the government of India have shown positive results. Widespread vaccination coverage helped in building confidence and removing the fear due to covid-19.
Both trade leaders said that the Union Government has successfully helped the economy to regain due to supply side reforms taken from time to time.
Availability of fiscal space has helped a long way in ramping up the capital spending by the government.The government consumption is growing by about 16.5% during the current fiscal year. This has helped pumping in funds into the economy.The GDP projection at 8.85 percent during the coming fiscal year will help in achieving a 5 trillion dollar economy. It’s a matter of satisfaction thas covid could not impact the agriculture sector which is expected to grow by 3.9%.The double digit growth of 11.8% in the industrial sector shows that the policies are yielding good results. The only cause of concern is growth in imports at 29.4%. This has to be brought down to maintain the balance of payment position in our favor. The Rupee has to become stronger in International currency.