Dr. Anand B. Assistant Professor, NMIMS Sarla Anil Modi School of Economics
After the disastrous ramifications of the Covid-19 pandemic, Economic Survey 2021-22 provides lots of optimism regarding the revival of the Indian Economy. The GDP growth for 2022-23 is expected to touch 8-8.5% as the economic activity rebounds to the pre-pandemic level. Private consumption is likely to witness strong recovery, which will certainly have positive spillover effects on private investments. The survey adds that factors such as widespread vaccine coverage, gains from supply-side reforms and easing of regulations, healthy export growth and more fiscal space for capital expenditure will revive the animal spirits.