Central theme of Economic Survey 2021-22 is the "Agile approach"

Last updated: 31 January 2022

Quick Summary
The Economic Survey 2021-22 highlights an "Agile Approach" as its central theme, focusing on feedback loops and real-time data for economic policy-making. This approach is particularly relevant given the explosion of available data, allowing for flexible responses to shocks like the COVID-19 pandemic rather than relying solely on predictive models. The survey also examines policy-making under extreme uncertainty and the evolution of the Economic Survey document itself, reverting to a single volume format with a separate statistical appendix.

CENTRAL THEME OF ECONOMIC SURVEY 2021-22 IS THE AGILE APPROACH PREFACE TAKES A BIRDS EYE VIEW OF EVOLUTION OF ECONOMIC SURVEYS SINCE INDEPENDENCE NEW CHAPTER DEMONSTRATES USE OF SATELLITE GEO-SPATIAL IMAGES TO GAUGE VARIOUS ECONOMIC PHENOMENON ECONOMIC SURVEY REVERTS TO A SINGLE VOLUME PLU
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FAQ :

The central theme of the Economic Survey 2021-22 is the "Agile Approach," which involves using feedback loops, real-time monitoring, and flexible responses to economic shocks.

The 'Agile Approach' relies on feedback loops, real-time monitoring of actual outcomes, flexible responses, and safety-net buffers, enabled by the abundance of real-time data.

The approach utilises various real-time data sources, including GST collections, digital payments, satellite photographs, electricity production, cargo movements, trade data, and mobility indicators.

The Economic Survey 2021-22 has reverted to a single-volume format, accompanied by a separate volume for the statistical appendix, moving away from the multi-volume format of recent years.

A new chapter has been added that demonstrates the use of satellite and geo-spatial images to gauge various economic phenomena such as urbanisation, infrastructure, and farming practices.



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