Question – On 31 January 2022, Union Finance and Corporate Affairs Minister Nirmala Sitharaman presented the “Economic Survey, 2021-22” in the Parliament. With reference to this, consider the following statements:
(i) India’s growth rate is estimated to be 8.0 to 8.5 percent in the year 2022-23.
(ii) A growth rate of 3.9 percent is expected in the agriculture sector in the year 2021-22.
(iii) The US remained the top export destination during April-November 2021.
(iv) Petroleum products topped the top ten exported items during April-November 2021.
Which of the above statement(s) is/are correct?
Code-
(a) only (i) and (iii)
(b) only (ii)‚(iii) and (iv)
(c) only (i) and (iv)
(d) all of the above
Answer—(d)
Related facts—
- On 31 January 2022, Union Finance and Corporate Affairs Minister Nirmala Sitharaman presented the “Economic Survey, 2021-22” in the Parliament.
- Key points —
- The Indian economy is estimated to grow by 9.2 percent in 2021-22 (1st AE) as against a decline of 7.3 percent in the year 2020-21.
- The GDP growth rate in the year 2022-23 is estimated to be 8 to 8.5 percent.
- Agriculture and allied sectors are expected to grow by 3.9 per cent, industry at 11.8 per cent and services sector by 8.2 per cent in 2021-22.
- With the increase in borrowing due to Covid-19, the central government’s debt increased to 59.3 percent of GDP in the year 2020-21 from the level of 49.1 percent of GDP in the year 2019-20.
- India’s external debt increased to $593.1 billion at the end of September 2021 from $556.8 billion a year ago.
- Foreign exchange reserves exceeded $600 billion in the first half of 2021-22 and reached a level of $633.6 billion as of December 31, 2021.
- At the end of November 2021, India was the fourth largest foreign exchange reserve country after China, Japan and Switzerland.
- India’s overall score on the NITI Aayog SDG India Index and Dashboard improved to 66 in 2020-21 from 60 in 2019-20 and 57 in 2018-19.
- India is the country with the tenth largest forest area in the world.
- India ranked third in the world in terms of increase in forest area during 2010 to 2021.
- India has become the third largest start-up ecosystem in the world after the US and China.
- The expenditure of the Center and states as a ratio of GDP on social services (health, education and others) which was 6.2 per cent in 2014-15 has increased to 8.6 per cent in 2021-22 (Budget Estimates).
- The US remained the top export destination during April-November 2021.
- Petroleum products topped the top ten exported items during April-November 2021.
By – Pankaj Pandey