News Brief

Recovery Complete, India Back On Pre-Pandemic Growth Path: Economic Survey 2023

  • The survey lists out three shocks that hit the global, as well as the Indian, economy in the last three years.

Swarajya StaffJan 31, 2023, 02:05 PM | Updated 02:12 PM IST
Economic Survey 2023

Economic Survey 2023


India's economic recovery from the pandemic shock is complete and the Indian economy is back on the pre-pandemic growth trajectory, says the just-released Economic Survey 2022-23.

Authored by the Chief Economic Advisor, Dr V Anantha Nageswaran, the survey lists out three shocks that hit the global, as well as the Indian, economy in the last three years:

  • The covid pandemic and the contraction it induced.

  • The Russia-Ukraine war.

  • Synchronised rate hikes, led by the Federal Reserve in USA, across economies, to curb inflation.


  • In the face of a strengthening dollar, this led to high inflation in net-importing economies, explains Dr Nageswaran.

    A fourth factor to add to the woes was the 'frailty of the Chinese economy'.

    However, says the latest Economic Survey, India appears to have demonstrated a 'full recovery in FY22 ahead of many nations', and has positioned 'itself to ascend to the pre-pandemic growth path in FY23'.

    Agencies worldwide continue to project India as the fastest-growing major economy at 6.5-7.0 per cent in FY23, said the recently released document.

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