Economic Survey 2022 today: What is it? From GDP growth to disinvestment policy - Key things to look out for in the survey

Economic Survey 2022: The Union Budget 2022-23 will be presented by Union Finance Minister on February 1, 2022. The Budget Session of Parliament is set to commence from Monday, January 31, 2022. The Economic Survey for the year 2021-2022 will be presented in both the Houses of Parliament on Monday itself.

What is Economic Survey?
The Economic Survey is meant to elucidate the government's take on the ongoing Financial year while also offering glances into the Indian economy's present state. Furthermore, the Economic Survey provides a summary of the annual economic development across the country during the financial year.

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Who prepares Economic Survey?

Traditionally, the Economic Survey is authored by the Chief Economic Advisor (CEA). However, this year, the government appointed V Anantha Nageswaran as Chief Economic Advisor on January 28, 2022. So, the Economic Survey has been prepared by the Principal Economic Advisor and other officials. Even the first Economic Survey of the Modi government presented by the then Finance Minister Arun Jaitley in July 2014 was prepared by senior Economic Advisor Ila Patnaik.

Economic Survey 2022: What to look out?

1) GDP Growth - In last year's economic survey, the government had forecast a GDP growth of 11 per cent in 2021-22. However, the country saw major disruptions in the second and third waves of the COVID-19 pandemic. Therefore, this year all eyes will be on the government forecast for the next year. It will also be interesting to see the government's remark on policies like Aatmnirbhar Bharat National Infrastructure Pipeline (NIP).

2) Healthcare sector - Healthcare was the focus of the government in the Budget 2021. However, the government allocated only 1.8 per cent of the GDP to health in last year's Budget. Players in the healthcare sector seek an increase in allocation. Now, with the challenges that the country witnessed in the second wave of COVID-19. It remains to be seen how much importance does the government gives to the health sector, which has been at the forefront of fighting the COVID-19 pandemic—the numbers which the Economic Survey present should be appropriately matched with the budgetary allocation on February 1.

3) Disinvestment - In last year's budget government gave a target of Rs 1.75 lakh crores for disinvestment in the FY 2021-22. This included the privatisation of 2 public sector banks and one public sector insurance company. Also, the government's comment on LIC IPO, which is a major part of the disinvestment plan, will be noteworthy.