Economic Survey 2020: 5 important points you must know
Economic Survey 2020: Finance Minister Nirmala Sitharaman tabled economic survey 2020 in the Lok Sabha on Friday afternoon. The document prepared by Chief Economic Advisor Krishnamurthy Subramanian and his team has predicted GDP growth for FY 20-21 between 6 to 6.5 per cent while stating that it was at 5 per cent for the current fiscal year. Here are five important points from the Economic Survey 2020 that you must know -
1. The document, presented a day before Union Budget 2020, forecasts India's economic growth at between 6 to 6.5 per cent for the fiscal year starting April. (Photo: Pixabay)
2. It said that current fiscal year 2019-20's growth rate is at 5 per cent, while adding that the fiscal deficit target for current fiscal may need to be relaxed to revive growth. (Photo: Reuters)
3. Weak global growth impacting India as well as investment slowdown due to financial sector issues had led to growth dropping to a decade low in current fiscal, it said, adding 5 per cent growth projected for 2019-20 is the lowest it could fall for now. (Photo: Pixabay)
4. Economic Survey calls for more reforms for making it Easier to do business in country. The Union Budget will be presented by FM on February 1. (Photo: Pixabay)
5. For boosting growth, the survey called for new ideas for manufacturing such as 'assemble in India for the world' which will create jobs. (Photo: Reuters)