Economic Survey Projects India's GDP Growth at 6-6.5 Per Cent for 2020-2021

New Delhi (Sputnik): Amid the widespread slowdown in the Indian economy, the government lowered its national income growth forecast for the current fiscal year from April 2019-March 2020 to 5 per cent against the earlier projections of 7 per cent.

A day ahead of the presentation of the national budget, an economic survey prepared by the Indian Finance Ministry has projected the country’s growth in the range of 6-6.5 per cent for the financial year 2020-2021.

According to the economic survey tabled by India’s chief economic adviser K. Subramanian, an uptick in growth is expected during the period of October 2019 and March 2020.

The survey says that the year 2019 was a “difficult year for the global economy”, adding that the “world output growth is estimated to have grown at its slowest pace, of 2.9 percent, since the global economic crisis of 2009”.

Asking the government to go ahead with reforms to achieve growth, the Economic Survey claimed that there is no overestimation in India’s Gross Domestic Product (GDP). Former Indian chief economic adviser who resigned in 2018, claimed last year, that there is an overestimation of about 2.5 per cent for the Indian GDP.