Economic Survey 2020: Now Economic Growth will Definitely Increase

Due to this, the domestic economic growth rate has come down to a decade low in the current financial year.
Economic Survey 2020: Now Economic Growth will Definitely Increase

The Economic Review for the financial year 2019-20 presented in Parliament on Friday said that the slowdown in the country's economic growth rate has come, and it will increase between 6 and 6.5% in the next financial year. The survey presented by Finance Minister Nirmala Sitharaman has projected an economic growth rate of 5 percent in the current financial year. The review said that India is being affected due to weak global economic growth and slowing investment due to problems in the country's financial sector. Due to this, the domestic economic growth rate has come down to a decade low in the current financial year.

The survey said that the growth is expected to be at least 5% in 2019-20. In the September quarter of the current financial year, the growth rate had come down to 4.5 percent. An economic review of this time has been published in a cover of light purple color (lavender). The color of the new 100 rupee note is also the same. The review states that to distribute the property, first it needs to be created. It is in this context that the need to give respect to those who create wealth is emphasized.

According to the survey, the government's interference seems to be ineffective in controlling the prices of commodities like onions. The review advocates new ideas of manufacturing to accelerate economic growth. These ideas also include the idea of ​​'assembling in India for the world', which will create employment. In order to promote trade facilitation, the review needs to remove red tape from ports for export promotion and take measures such as starting businesses, registering assets, making tax payments and making agreements easier.

The survey emphasized the need to publish more information to improve company operations in public sector banks and increase investor confidence. The review also mentions the dwarfing trend in the banking sector. The Economic Survey advocates 10 new ideas to strengthen the economy and the market.

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