A day before Union Budget for the next fiscal year, Economic Survey 2019-20 was tabled in the Parliament today.
Like previous years, this year’s Survey has a ‘Lavender Purple Theme’ – a synthesis of old and new. The
Survey advocates 10 new ideas that benefit markets as well as the economy.
The Survey has projected the country’s economic growth to be between 6 per cent and 6.5 per cent. The Survey highlighted that home sales can clean up the banks’ and NBFCs’ balancesheets.
Every year, before the presentation of Budget for the next fiscal, the Survey gives a detailed account of the state of the economy of the previous fiscal. Last year, the document laid a blueprint for achieving Modi government’s $5 trillion GDP target with the help of “New Ideas on Indian Economy” .
This year’s survey comes at a time when the government is trying to revive the economy that is facing its worst slowdown in the recent years with economic growth slipping to 4.5% and unemployment rate at a 45-year high.
Here are all the key highlights from the Economic Survey 2020:
*
Economic
Survey advocates 10 new ideas that benefit markets as well as the economy.
*Economic Survey projects economic growth at 6-6.5% in fiscal year starting April 1.
* The growth in 2020-21 compares to a projected 5 per cent expansion in 2019-20.
* 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
Source: Economic Times
