Macro
Budget 2022: Agri trumps Covid slowdown, services struggle
Agriculture was least impacted by the pandemic and is estimated to grow 3.9% in FY22 on top of 3.6% and 4.3% in the previous two years. It now accounts for 18.8% of GVA. Industry, which contracted 7% in FY21, is set to expand 11.8% in FY22, and accounts for 28.2% of GVA. Services, poised to grow at 8.2% in FY22 after contracting 8.4% in FY21, currently account for 5.3% of GVA.
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