Economic Survey reveals flexibility and resilience to combat uncertainty

Govt's focus on supply-side reforms in post-pandemic period, combined with policies aimed at minimising near-term demand shocks and extending safety nets for the vulnerable has been commendable

The Economic Survey for fiscal 2021-22 (FY22) has effectively taken stock of how the Indian economy coped with the second year of the pandemic. The government’s focus on supply-side reforms in the post-pandemic period, combined with policies aimed at minimising near-term demand shocks and extending safety nets for the vulnerable has indeed been commendable.

The Survey highlights that supply-side reforms have been oriented along the lines of achieving flexibility (such as factor market and process reforms), while at the same time improving the resilience of the Indian economy (such as provision of social infrastructure and PLI schemes). The rapid operationalisation