Union Budget 2020: Govt Tables Economic Survey, Pegs Growth Rate at 6-6.5% For FY 2020-21

The growth rate for the current financial year, ending March 31, was 5%, the Economic Survey, prepared by Chief Economic Adviser (CEA) Arvind Subramanian said. The Survey added that the rate of inflation declined from 3.2% in April 2019 to 2.6% in December 2019.

New Delhi: Finance Minister Nirmala Sitharaman on Friday tabled the Economic Survey 2020 on what was the first day of the Budget session. The Survey, prepared by Chief Economic Adviser KV Subramanian, pegged the gross domestic product (GDP) growth rate for the current financial year, ending on March 31, at 5%.

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The development, however, marks a sharp decline from the estimate of 7% growth as was predicted by the Economic Survey last year.

For the next financial year, i.e. between April 1, 2020-March 31, 2021, the Survey projected a GDP growth rate of 6-6.5%.