Indian economy is seen growing at ______ per cent in the current fiscal, finance minister Nirmala Sitharaman said while presenting the Union Budget 2022.
9.2
Understanding India's Economic Growth Projection in Budget 2022
The Union Budget is a comprehensive financial statement presented by the government detailing its expenditure and revenue for the upcoming fiscal year. It often includes projections about the state of the economy, including expected growth rates.
India Economy Growth Forecast in Budget 2022
During the presentation of the Union Budget for 2022, Finance Minister Nirmala Sitharaman provided key insights into the government's outlook on the Indian economy. A significant part of this outlook was the projected growth rate for the current fiscal year.
According to the statement made by the Finance Minister while presenting the Union Budget 2022, the Indian economy was projected to grow at a specific percentage in the current fiscal year.
The figure mentioned for the expected growth rate of the Indian economy in the current fiscal year, as stated by Finance Minister Nirmala Sitharaman in the Union Budget 2022, was:
- 9.2 per cent
This projection was a key highlight of the budget speech, indicating the government's confidence in the economic recovery and future performance.
Key Details from Union Budget 2022
The Union Budget 2022-23 focused on several pillars aimed at boosting economic growth. The growth projection of 9.2 per cent was presented as the expected outcome for the fiscal year 2021-22, making India the fastest-growing major economy in the world for that period according to the budget documents.
Significance of the Growth Rate Projection
The projected growth rate is an important indicator used by economists, investors, and citizens to understand the health and trajectory of the economy. A higher growth rate generally signifies increased economic activity, potentially leading to job creation and improved living standards.
Revision Table: Union Budget 2022 Economy Highlights
| Topic | Detail from Budget 2022 |
|---|---|
| Presented By | Finance Minister Nirmala Sitharaman |
| Event | Union Budget 2022 Presentation |
| Economy Growth Projection (Current Fiscal) | 9.2 per cent |
| Fiscal Year Referenced | 2021-22 |
Additional Information: Economy Concepts
To better understand economic projections like the one discussed, it's helpful to know some basic terms:
- Fiscal Year: In India, the fiscal year typically runs from April 1st of one calendar year to March 31st of the next.
- GDP Growth Rate: Gross Domestic Product (GDP) is the total value of goods and services produced within a country's borders in a specific time period. The GDP growth rate measures how much the GDP has increased or decreased compared to the previous period, indicating economic performance.
- Union Budget: The annual financial report of the government, detailing estimated revenues and proposed expenditures for the coming fiscal year. It's a key document outlining the government's economic plans and priorities.
The 9.2 per cent growth projection shared in the Union Budget 2022 specifically referred to the estimated growth for the fiscal year 2021-22.
Important Questions from Miscellaneous
A stone is thrown horizontally from the top of a 20 m high building with a speed of 12 m/s. It hits the ground at a distance R from the building. Taking g = 10 m/s2 and neglecting air resistance will give :
A sphere of volume V is made of a material with lower density than water. While on Earth, it floats on water with its volume f1V (f1 < 1) submerged. On the other hand, on a spaceship accelerating with acceleration a < g (g is the acceleration due to gravity on Earth) in outer space, its submerged volume in water is f2V. Then:
A railway wagon (open at the top) of mass M1 is moving with speed v1 along a straight track. As a result of rain, after some time it gets partially filled with water so that the mass of the wagon becomes M2 and speed becomes v2. Taking the rain to be falling vertically and the water stationery inside the wagon, the relation between the two speeds v1 and v2 is :
Consider the following statements:
1. Distance between the longitudes becomes zero on North Pole and South Pole.
2. Distance between the longitudes is maximum on the Equator.
3. Number of longitudes is more than number of latitudes.
Which of the statements given above is/are correct?
One block of 2⋅0 kg mass is placed on top of another block of 3⋅0 kg mass. The coefficient of static friction between the two blocks is 0⋅2. The bottom block is pulled with a horizontal force F such that both the blocks move together without slipping. Taking acceleration due to gravity as 10 m/s2, the maximum value of the frictional force is :
