Economic Survey 2020 tabled in the Parliament by the Finance Minister
The Economic Survey of the Fiscal Year 2020 has been tabled in both the houses of Parliament. The survey highlights economic trends in the country, development over the past 12 months and facilitates better mobilization of resources.
The Current Fiscal Growth is 5%
The projected GDP growth for the year 2020-21 is 6% to 6.5%
The industrial growth for the Fiscal Year 2020 (2019-20) has been 2.5%
The Forex Reserves of the Fiscal Year 2019 (2018-19) was 461.2 billion USD
The GST collection for the FY20 has grown by 4.1%
The theme for the Economic Survey 2020 is
Theme: Wealth Creation, Promotion of pro-business policies, strengthening of trust in the economy
The investments grew between 2008 and 2013. After 2013, the credit (money inflow towards the economy or investments) has been slowing down. The year 2013 saw the highest investments (between 2008-19) mainly due to corporate sector. The credit has been declining mainly due to global scenario of economic slowdown. This decline of investments is the major reason for the economic slow down after 2017.Therefore, it is essential to CREATE WEALTH. In other words, to increase investments. This will aid in long term economic growth according to the survey.