Lavender Economic Survey says growth has bottomed out, pegs GDP for FY21 at 6-6.5%

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 Economic Survey released on Friday has projected economic growth will rebound and hit 6%-6.5% in the next financial year starting April 1, saying growth has bottomed out.

The Survey printed in lavender colour suggested counter-cyclical measures including relaxing fiscal deficit. To clarify, counter-cyclical measures during an economic slowdown include increasing government spending and tax cuts. 

The 6%-6.5% growth expected in 2020-21 is in comparison to a projected 5% expansion in 2019-20.