The economic targets set for the current financial year could not be achieved, the important points of the Economic Survey for the current financial year 2022-23 have revealed.
According to the main points of the Economic Survey, the economic growth rate in the current financial year was 0.29 percent against the set target of 5.01 percent. Similarly, the agriculture sector grew at 1.55 percent with a growth target of 3.9 percent.
Severe floods in the country also badly affected other economic sectors including agriculture. The growth rate of crops was minus 2.49 percent. The growth of major crops was minus 3.20 percent while the growth target of crops was set at 3.5 percent. The growth rate of livestock was 3.78 percent against the target of 3.7 percent. The fisheries sector grew at 1.44 percent with a target of 6.1 percent.
The growth rate of the forest sector was 3.93 percent, whose target was set at 4.5 percent. Similarly, the growth rate of the industrial sector was minus 2.94 percent and its target was 5.9 percent. In addition, the growth of large industries was minus 7.98 percent as against 7.4 percent. The growth of small industries was 9.03 percent against the target of 8.3 percent.
According to the main points of the Economic Survey, the growth rate of electricity, gas and water supply was 6.03 percent, while their target was 3.5 percent. The construction sector grew at minus 5.53 percent with a target of 4 percent.
The growth of information and communication sectors was 6.93 percent and its target was 6 percent. In addition, real estate activity grew at 3.72 percent against the target of 3.8 percent. The growth of the education sector was 10.44 percent against the target of 4.9 percent.
The size of the country’s economy has come down to $341.5 billion. Compared to the last financial year the GDP decreased by $34 billion. In the year 2021-22, the size of the country’s economy was $375.4 billion.
It should be noted that the Economic Survey for the current financial year 2022-23 will be presented tomorrow at 4:30 pm.
