Economic Survey 2020-21: Indian economy is on a crucial juncture. It is in a situation where some great policy measures can pull it out of a slump and some bad decisions can push it down further. The government estimated that India’s GDP growth rate would be 5.1 per cent but some analysts have called it ‘optimistic’. Government has recently conceded that India’s GDP growth is going fall at an 11-year low of 5 per cent. This is not an ideal situation.
Know More | What is Economic Survey?
India’s trade deficit is also in a bad shape as exports have fallen for 5th month in a row. India’s merchant export contracted 1.8 per cent last month. The trade deficit also fell to $11.25 billion from a year-ago period. India’s imports also saw a decline at it was registered at 8.8 per cent, down to $38.61 billion. Most of the sectors are showing a downward trend.
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Many experts have called Budget 2020-21 as the most important budget of the decade. The Economic Survey 2020-21 is going to present a clear picture of the country’s economic health and might give a sneak peek into the Budget 2020 to be presented on February 1 by Finance Minister Nirmala Sitharaman. Financial Express Online brings to you latest on Economic Survey 2020-21. Stay tuned for Economic Survey 2020 LIVE:
India’s Economic Survey 2020 is prepared under the guidance of CEA or Chief Economic Advisor. It is presented in both the houses of Parliament, Lok Sabha and Rajya Sabha, a day before the FM presets India’s Union Budget in the lower house.
Presented in the Parliament just before the Union Budget of India, Economic Survey is Finance Ministry’s flagship document. It presents detailed information on the condition of the Indian economy in the past year. India’s Economic Survey gives a glimpse of the current state of the economy and also an occasional insight into the country’s economic outlook. Read what is Economic Survey
Source: Financial Express
