Ministry Of Finance releases Monthly Economic Review For January 2022
Ministry of Finance released full report for monthly economic review for January 2022 month. Key Highlights-1 is Overall economic activity remained resilient amid the third wave. HFIs show India’s economy is well on its way to high growth: Power consumption, PMI manufacturing, exports, e-way bill generation.
Wide Vaccination and Economy’s adaptability to the pandemic led to modest impact of third wave. Budget 2022-23 strengthened the direction set by the previous year’s budget. Also Union Budget 2022-23 is commitment to infrastructure to invigorate virtuous cycle of investment with large multiplier effects leading to inclusive and sustainable growth.
Key Highlights-2 is Seven engines of Gatishakti to reduce the infrastructure gap and facilitate private investment. PMI manufacturing and services remain in expansionary zone in January. Robust double-digit growth in exports continues. Inflation nudging 6 per cent after 6 months but CPI Has declined over the last two months.