– Dr. S. Lingamurthy
Swadeshi Jagaran Manch South India Co-Coordinator
In the midst of global economic sluggish growth below 3 percent in 2023 and so called advanced countries projected to be grow at below 2.5 percent, India economic growth rate has been projected 6.8 percent during 2022-23 financial year based on last eight to nine months’ economic indicators used in Economic Survey presented in the Indian Parliament today by Smt. Nirmala Sitaraman, Finance Minister, Government of India. India has become the ray of hope for the world’s prosperity in crisp of COVID and Russia-Ukraine War.
Economic Survey – 2022-23 shows that India would be rising economically with 6.8 percent growth rate by having very strong economic fundamentals. Our foreign exchange reserves are in comfortable situation, external trade is in optimistic, consumer price index rising below 6 percent and wholesale price index is under 5 percent. India’s capital expenditure (CAPEX) is kept on increasing and this will be resulted in multiplier effect in near future. Our agriculture sector has crossed the orthodoxy stage of food security to nutritional security. MSME sector is performing in a commendable situation owing to Production Intensive Linked Scheme. As per the Economic Survey report the only alarming is Current Account Deficit (CAD) is to be under control. Based on these strong fundamentals of our economy it is expected that tomorrow budget would be focusing on employment creation by creating robust infrastructure and strengthening industry and agriculture sector.
