Govt has pursued 4-pronged strategy to deal with COVID pandemic, says CEA Nageswaran

Hours after Union Finance Minister Nirmala Sitharaman tabled the Economic Survey report in the Parliament, Chief Economic Adviser (CEA) Dr V Anantha Nageswaran on Monday addressed a press conference and released the Economic Survey 2022 report.

During the press conference, he said that the Central government has pursued a 4-pronged strategy to deal with COVID pandemic. Nageswaran said the Economic Survey 2021-22 was compiled by Sanjeev Sanyal and his team of advisors.

Giving details, principal economic adviser Sanjeev Sanyal said that the economic activities have crossed pre-pandemic levels. "In 2021-22, there was a revival of economic activity to pre-pandemic levels," Sanyal said.

Sanjeev Sanyal also added that there has been a revival in economic activities to pre-pandemic levels in the year 2021-22. 

Sanyal also stated that the economy is estimated to have grown by 9.2% this year after a contraction of 7.3% in the previous year.

He further added that the total consumption is just shy of where we were before the pandemic. "The government consumption has been reasonably strong but private consumption still lags," Sanjeev Sanyal added.