TIL Desk/Business/New Delhi/ The Economic Survey on Friday projected India’s economic growth at 6 per cent to 6.5 per cent in the next financial year starting April 1, saying growth has bottomed out. The growth in 2020-21 compares to a projected 5 per cent expansion in 2019-20. “The deceleration in GDP growth can be understood within the framework of a slowing cycle of growth with the financial sector acting as a drag on the real sector,” it said.
“The government must use its strong mandate to deliver expeditiously on reforms, which will enable the economy to strongly rebound in 2020-21,” it said. The two-volume Survey this year has been printed in lavender colour — the same as the colour of the new 100 rupee currency note, the oldest currency note in circulation in the country.
The pre-Budget Survey said for wealth to be distributed, it first has to be created and called for looking at wealth creators with respect. The Survey said government interventions seem to be ineffective in stabilising prices of commodities such as onions. For boosting growth, it called for new ideas for manufacturing such as ‘assemble in India for the world’ which will create jobs.
