According to Economic Survey 2020-21, the real growth rate for the financial year 2022 is assumed (on the basis of IMF estimates) to be:
- (a)7.7 Percent
- (b)8.7 Percent
- (c)9.5 Percent
- (d)11.5 Percent
Correct — D, 11.5 percent. The Economic Survey 2020-21 cited the IMF's projection of 11.5% real GDP growth for India in 2021-22 (FY22), consistent with the Survey's own baseline forecast of around 11% real growth for that year — an expected sharp (V-shaped) recovery after the COVID-19 contraction.
- (a)7.7 Percent — This figure appears in the same Survey, but as the estimated real GDP contraction for FY21 (the pandemic year), not the projected growth for FY22.
- (b)8.7 Percent — Not the IMF/Survey figure cited for FY22 growth — a plausible-sounding but incorrect distractor.
- (c)9.5 Percent — Also not the cited IMF figure for FY22 — a distractor for a student who recalls 'high growth' without the exact number.
The Economic Survey, prepared under the Chief Economic Adviser and tabled in Parliament a day before the Union Budget, reviews the past year's economic performance and gives a forward growth outlook, often citing multilateral estimates (IMF, World Bank) alongside its own projections.
FY21 saw a sharp COVID-19-driven contraction (about -7.7%); the Survey projected a strong FY22 rebound and cited the IMF's own 11.5% estimate to corroborate its roughly 11% domestic projection. The easy trap is swapping the contraction figure (FY21) with the recovery figure (FY22).
- Economic Survey 2020-21 estimated FY21 real GDP to contract by about 7.7%
- It projected an FY22 (2021-22) recovery, citing the IMF's estimate of 11.5% real growth
- The Survey is prepared under the Chief Economic Adviser, Ministry of Finance, and tabled just before the Union Budget
The Survey cited the IMF's 11.5% FY22 estimate, in line with its own roughly 11% domestic projection.
- Swapping the FY21 contraction figure with the FY22 growth projection
- Confusing the Survey's own estimate with the IMF's cited estimate (they were close but not identical)
Usually a direct 'according to Economic Survey <year>, what growth/contraction figure was projected for <FY>' factual recall question.
No directly related past PYQ was found.
- practice — not a real PYQ
The Economic Survey of India is prepared under the aegis of the:
- (a)Reserve Bank of India
- (b)NITI Aayog
- (c)Chief Economic Adviser, Ministry of Finance
- (d)Comptroller and Auditor General
Answer(c) Chief Economic Adviser, Ministry of Finance.
- practice — not a real PYQ
The Economic Survey 2020-21 estimated India's real GDP to contract by approximately what percentage in FY21 due to the COVID-19 pandemic?
- (a)3.7%
- (b)5.7%
- (c)7.7%
- (d)9.7%
Answer(c) 7.7 percent.