Eco Survey pegs growth at 6.5% next fiscal

January 31, 2020 13:38

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. Weak global growth impacting India as well as investment slowdown due to financial sector issues had led to growth dropping to a decade low in current fiscal, it said, adding 5 per cent growth projected for 2019-20 is the lowest it could fall for now. Growth slipped to 4.5 per cent in the July-September quarter.

The 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. -- PTI

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