Nirmala Sitharaman tables Economic Survey; GDP growth seen expanding by 11 per cent
India
Updated: Friday, January 29, 2021, 16:18 [IST]
New Delhi, Jan 29: Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey that details the state of the economy ahead of the government s Budget for fiscal year beginning April 1, 2021.
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Nirmala Sitharaman
The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
The economy, which was battered by the coronavirus lockdown, is expected to see a strong recovery in the 2021-22 fiscal year.
2021-01-29 10:35:36 GMT2021-01-29 18:35:36(Beijing Time) Xinhua English
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NEW DELHI, Jan. 29 (Xinhua) The Indian government said in its Economic Survey on Friday that the country s economy is estimated to contract 7.7 percent in the 2020-21 fiscal year.
The survey, an important business-centric presentation, was tabled two days ahead of the federal budget presented by Finance Minister Nirmala Sitharaman to the country s parliament. The survey was tabled after President Ram Nath Kovind made a joint address to both the houses of parliament, an official said.
For the FY 2020-21 which ended on March 31, 2021, the economy is expected to contract by 7.7 percent, the survey said. This is in line with the estimates of the Reserve Bank of India (7.5-percent contraction), and the National Statistical Office (7.7-percent contraction).
Nirmala Sitharaman presented the Economic Survey detailing state of economy ahead of the Budget
The Economic Survey has forecast a “V-shaped” recovery for the Indian economy and real GDP growth of 11 per cent in 2021-22, on the back of the roll-out of a massive vaccination drive. Finance Minister Nirmala Sitharaman presented the Economic Survey, detailing the state of the economy ahead of the Budget, on February 1.
The Economic Survey, prepared by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, gives an overview of the various economic sectors and suggests economic reforms that need to be undertaken by the government to accelerate growth.
Finance Minister Nirmala Sitharaman today presented the Economic Survey that details the state of the economy ahead of the government s Budget for fiscal year beginning April 1, 2021. The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth. The economy, which was battered by the coronavirus lockdown, is expected to see a strong recovery in the 2021-22 fiscal year. The gross domestic product (GDP) contracted by a record 23.9 per cent in April-June and by 7.5 per cent in the second quarter. For the full fiscal, the survey projected a contraction of 7.7 per cent and V-shaped recovery in the next. GDP growth is seen expanding by 11 per cent in the 2021-22 fiscal (April 2021 to March 2022).
Economic Survey 2021 to be tabled today: All you need to know about CEA KV Subramanian The CEA has been part of several expert committees in the past. Most famously, he has been part of the PJ Nayak Committee FP Trending January 29, 2021 13:06:38 IST
The Government of India will be presenting the Economic Survey 2021 in the Parliament today (29 January), setting the stage for the Union Budget.
The Economic Survey is a detailed report on the condition of the country’s economy in the past one year and it is prepared by the Economic Division of the Department of Economic Affairs (DEA) under the guidance of the government’s Chief Economic Advisor (CEA).