Budget Session 2022: Economic Survey projects slow and expensive recovery of semiconductor supply chain

New Delhi, Jan 31 (KNN) The Economic Survey has highlighted a slow and costly recovery in the semiconductor supply chain as the manufacturing depends on large capital requirements for the supply chain disruptions to neutralise.

It has projected a GDP growth rate of 8-8.5 per cent in 2023, which is tabled by the Finance Minster Nirmala Sitharaman in the Parliamnet for the budget session 2022-2023.

For Gross Fixed Capital Formation (GFCF) will achieve full recovery of pre-pandemic level and is expected to see strong growth of 15 per cent in 2021-22, states the economic survey.

The agriculture sector progress in 2021-22 owing to an effective agriculture export policy coupled with the increased demand for staples during the COVID-19 pandemic.

The export of agriculture and allied products (including marine and plantation products) grew by 23.2 per cent to $ 31.0 billion during April-November, 2021 over the corresponding period of 2020-21 and by 35.0 per cent over April-November, 2019, surpassing the pre-pandemic levels.