Overall economic activity has continued to be resilient amid the third wave of COVID-19. This is reflected in the robust performance of several high-frequency indicators like power consumption, PMI manufacturing, exports, and e-way bill generation. Further, the Union Budget’s commitment towards public infrastructure development will encourage private investment, augmenting inclusive and sustainable growth. It is a testament to the farsightedness of policymaking that the Indian economy that contracted by (-) 6.6% in 2020-21, is now projected to grow the quickest among the group of large nations in 2022-23.
