Economic Survey: GDP to grow at 6 to 6.5 pc in next fiscal 2020-21

Newsroom Staff

5 years ago

New Delhi: India’s gross domestic product (GDP) is projected to grow at a rate of 6 to 6.5 per cent in the next financial year 2020-21, according to the Economic Survey laid in Parliament on Friday.

The survey, a detailed report card on the economic performance, was tabled by Finance Minister Nirmala Sitharaman after President Ram Nath Kovind said the government is committed to make India a five trillion dollar economy by 2025.

The government has estimated GDP expansion at 5 per cent for the current financial year ending on March 31. In the July to September quarter, economic growth slipped to 4.5 per cent.

Economic Survey

UPTICK IN GDP GROWTH EXPECTED IN SECOND HALF OF 2019-20; FIRST ADVANCE ESTIMATES PEG GROWTH FOR OVERALL FISCAL AT 5 PER CENT

GDP GROWTH IS EXPECT. SHARE OF FORMAL EMPLOYMENT INCREASES FROM 17.9 PER CENT IN 2011 -12 TO 22.8 PER CENT IN 2017-18 REFLECTING FORMALIZATION IN THE ECONOMYED TO GROW IN THE RANGE OF 6.0 TO 6.5 PER CENT IN 2020-21, SURVEY ASKS GOVERNMENT TO DELIVER EXPEDITIOUSLY ON REFORMS

AGRICULTURAL GROWTH SHOWS MODEST REVIVAL IN FIRST HALF OF 2019-20

EASING OF CRUDE PRICES LOWERS CURRENT ACCOUNT DEFICIT; IMPORTS CONTRACT MORE SHARPLY THAN EXPORTS IN 1ST HALF OF 2019-20

INFLATION DECLINES SHARPLY FROM 3.2 PER CENT IN APRIL 2019 TO 2.6 PER CENT IN DECEMBER 2019, REFLECTING WEAKENING OF DEMAND PRESSURE IN THE ECONOMY