Budget 2022 Live: Digital Rupee To Be Launched By RBI In FY23

India's foreign exchange reserves stood at $634 billion, which is higher than its external debt, and is equal to 13.2 months of merchandise imports. "The combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide an adequate buffer against possible global liquidity tapering in 2022-23", states the Economic Survey, in reference to global central banks hiking interest rates and reducing pandemic-era easy money.

Agricultural growth is seen at 3.9% for FY22 over growth of 3.6% in FY21, and industrial growth at 11.8% this year over a contraction of 7% last fiscal. Services grew by 8.2% over a contraction of 8.4% last fiscal. This cements the fact the services sector has been the most widely hit sector by the ill-effects of the pandemic.

While the health impact of the second wave of the COVID-19 pandemic was more severe than the first, its economic impact was comparatively minimal, says the Economic Survey

The Economic Survey states that India's GDP will grow 9.2% this year, and between 8-8.5% in the next. 

The Economic Survey is a document that provides a snapshot of the year gone by. 

Economic Survey Tabled In Lok Sabha

The journey to the Union Budget starts with the Economic Survey, which has been tabled earlier today in Lok Sabha

Welcome to BOOM's live blog on the Union Budget 2023!