The economic survey predicts growth of 6% to 6.5% for 2020-21: report

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It remains to be seen whether Sitharaman's budget covers all remedial measures. However, the government has already released estimates that forecast GDP growth of 5 percent in 2019-20.

Business Survey 2019-20: The survey will forecast growth of 6 to 6.5 percent for 2020-21. (Photo: Reuters / Representative picture)

In the 2019-20 economic survey, growth of 6 to 6.5 percent is forecast for the next financial year from April 1, 2020. The forecast takes into account all fiscal measures that the government will announce tomorrow in the Union's budget 2020-21, according to Reuters.

It can be noted that growth in India slid to a bleak 4.5 percent in the July-September quarter, but economists expect growth to improve slightly in the coming quarter.

Growth should continue to improve as Finance Minister Nirmala Sitharaman is expected to announce several new measures to combat the economic slowdown.

Business survey 2020: when and where to see

While the government is sure to miss its budget deficit target, economists have urged the Treasury to focus on spending more in key sectors, apart from tax breaks, to combat the slowdown in demand.

It remains to be seen whether Sitharaman's budget covers all remedial measures. However, the government has already released estimates that forecast GDP growth of 5 percent in 2019-20.

It will be the slowest growth rate for India since the 2008/09 financial crisis.

However, the government is confident that the latest measures and those announced tomorrow under the 2020-21 EU budget will help the country recover from the economic downturn triggered by the slowdown in demand.

In the meantime, chief economic advisor Krishnamurthy Subramanian will present the official economic report 2019-20 on the same day. All major economic policies, roadmaps and the performance of key government policies during the current budget are detailed.

Click this link to follow the 2020 economic report live on India today

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